Why seasoned advisors are tweeting

Why seasoned advisors are tweeting

Why seasoned advisors are tweeting Where were you when Carl Icahn announced his 10 per cent stake in Netflix back in October 2012? You probably can’t remember and since he didn’t join Twitter until June 2013, he certainly didn’t tweet about it. But he did tweet in June selling his last shares in Netflix and in the process generating $1.6 billion in profits from the two-and-a-half year hold.
While tweeting to your followers is a great way to stay in touch, an even better use of Twitter might be to follow people like Icahn who don’t have a problem highlighting their investment moves. In fact, with the move to big-data analytics such a huge trend these days, Nasdaq is partnering with Market Prophit, a social media analytics firm that studies how tweets affect a company’s stock.
There’s gold in them there tweets.
“What financial advisers need to be aware of is what's happening to the holdings for clients," Morgan Downey, chief executive of Money.net, a stock data analytics platform. "They need to monitor social media because you have markets moving because of social media. The power of a single tweet could be worth billions.”
Certainly that’s the case with Icahn and Netflix but that doesn’t mean you should throw away common sense.
“Just as with anything else, whether it is people reading tweets or machines reading tweets, we have to be careful," said Dave Gerdt, senior adviser at the Hultquist Firm Advisors. "You think of the huge amount of bogus news stories that get shared on Facebook, [such as] reports of people dying that haven't really died.

"That's what you open yourself up to. You just have to have a heightened sense of skepticism."
  • Cory Papineau 2015-07-29 5:16:08 PM
    I use Twitter a lot. It can be used as a marketing tool or to prospect for new clients but that's not what it does best.

    Where it flourishes is following thought leaders in Financial Planning, Business Management, Leadership etc. Plus it is a fantastic way to stay connected to your community which will indirectly lead to bigger success in growing your client base.

    The mix of accounts I follow are other Financial Advisors here in Canada and around the world (it's interesting to see what is happening in Australia and the UK as changes there take hold) and people in my community - business leaders, politicians and individuals that care for the community as much as I do.

    It does not require you to contribute. You can follow first and engage at a later time.

    If you want to check me out on Twitter my handle is Iam_Canadian.

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