Social Media Software Options for Financial Advisors

Social media’s power as a marketing tool is undeniable, and savvy advisors understand the value in leveraging platforms like Facebook, YouTube and Instagram to connect with prospective clients. Software programs can help you create and manage your content more efficiently, while ensuring that your firm adheres to compliance requirements. Features, benefits and pricing are important considerations when comparing social media software for financial advisors.

SmartAsset’s Advisor Marketing Platform (AMP) offers financial advisors services like client lead generation, automated marketing and more. Learn about SmartAsset AMP today.

Social Media Software for Advisors: 6 Options to Consider

When comparing social media software programs, ask this question: What do you need it to do for your firm?

Not all social media tools are designed with the same purpose, and even ones that are meant for the same use can have different features or capabilities. It’s easier to decide which ones are right for your firm when you’re clear about what you want them to deliver.

With that in mind, here are some of the options you might consider when researching social media software for financial advisors.

1. Hootsuite

Hootsuite is a complaint social media management tool that serves numerous industries, including financial services. Advisors can use Hootsuite to:

• Create compliant social media content
• Monitor brand mentions in real time
• Set up compliance workflows for key members of your team
• Track performance for your social media campaigns
• Control your team’s access to AI features built into the platform

According to the company website, Hootsuite gives advisors access to everything they need to create compliant social media campaigns that convert.

Cost: $99 to $249 per user/month; enterprise pricing available¹

2. AdvisorStream

AdvisorStream may appeal to advisors who are interested in AI-powered content creation. With this platform, you can:

• Create timely social media and website content
• Automate your most tedious marketing tasks
• Remain compliant while saving time
• Start conversations, encourage engagement and nurture leads

AdvisorStream works with over 5,000 integrations, including Salesforce, WealthBox and Redtail, all of which are popular customer relationship management (CRM) platforms for advisors.

Cost: $158 monthly for Essentials; $212 for Growth; enterprise pricing available²

3. Oeschli

Oeschli assists advisors with compliant social media content creation, with three plan tiers to meet diverse needs. Highlights of this social media software option include:

• Branded content that reflects your niche and the pain points of clients you serve
• Interactive scheduling so you can see which posts are upcoming, what has been posted and what needs your approval
• Analytics and competitor analysis to help you step up your social media marketing game
• Sponsored content to help boost engagement and clicks
• Dedicated support if you need help or have questions

You may consider this social media software option if you’re looking for a complete turnkey solution.

Cost: $199 to $1,499 monthly³

4. FMG Suite

FMG Suite offers multiple marketing solutions for financial advisors, including social media tools. When you partner with FMG Suite, you’ll get:

• Made for you social media content
• Automated posting to keep your profiles active and encourage engagement
• AI-powered recommendations for content to share with your audience across different social media platforms

You can also get help with email and video content, as well as greeting cards you can share with clients. If you’re ready to modernize your website design, FMG can help with that, too.

Cost: Varies by plan tier; contact the FMG team for details

5. Smarsh

Smarsh is a social media archiving software that provides compliant recordkeeping to wealth managers, RIAs and individual financial advisors. With Smarsh, you can:

• Capture records of social media content and other client communications
• Store data compliantly
• Easily search records and export files into multiple formats
• Manage users and migrate data through a centralized location
• Create detailed audit trails

Large and small advisory firms rely on Smarsh for compliant social media archiving.

Cost: Contact the Smarsh team to discuss pricing

6. Archive Intel

Archive Intel is another social media archiving software program that was developed by former financial advisors. The platform helps to ensure that:

• New social media content is archived automatically, without having to install multiple apps
• Records are retained for the appropriate period, as required by compliance rules
• New content that’s published to your social media profiles is compliant
• Advisors are audit-ready, with detailed documentation of social media archiving
• Private social media and email communications remain private

You can import historical data from social media accounts, so you have a complete view of your activity and records. Setup with Archive Intel takes just minutes and a dedicated support team is there to help.

Cost: $99/monthly; $89/monthly when billed annually; enterprise pricing available⁴

Why Use Software for Social Media Marketing

Utilizing software programs to assist with social media marketing can be a smart move if it saves you time and money. Software programs can help you to:

• Quickly generate content that’s specific to your brand, freeing up time that you can use to focus on other things
• Produce content in batches, so you can plot out your content calendar weeks or even months in advance
• Schedule content publishing so you’re able to show up consistently for your audience
• Monitor social media content for compliance, in accordance with SEC and FINRA rules

Do social media software tools require a financial investment? Many of them do, and the more features you need, the more you can typically expect to pay. However, consider what you may get in return.

If a social media software program helps you to bring in more leads, grow your brand and increase conversions, then any monthly or yearly fee you pay to use it could be well worth it. Scheduling a demo or enrolling in a trial period for any software you’re considering allows you time to decide if it’s something you want to invest in.

Bottom Line

Social media software can make your professional life easier if you’re not tied to your computer, trying to produce fresh content ideas daily, or staying on top of a complicated posting schedule. The solutions shared here are a sampling of what you might consider when searching for new tools to add to your tech stack.

Tips for Growing Your Advisory Business

• Social media can help you expand your reach and connect with prospects who are searching for an advisor to work with. It can take time, however, to build a following and gain traction. If you’re looking for a way to simplify lead generation, you may consider partnering with an advisor marketing platform. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• If you’re just getting started with social media, consider which platforms may be most worthwhile. Developing a buyer persona can offer insight into who your ideal clients are and where they typically spend their time online. If you serve multiple types of clients across the same niche, you may want to work up buyer personas for each of them.

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