WSJ Story Finds Twitter Brings Few Benefits to Financial Pros

According to a new story in The Wall Street Journal examining the impact that Twitter has had on financial advisors who've tried to use the service to build their business, the micro-blogging platform has yet to deliver any major results.

The story is just the latest in a series of articles questioning Twitter's value, its overall strategy and whether it will ever actually be able to deliver the goods when it comes to business development. And it's important to note that while the story mentions that Twitter isn't responsible for bringing the advisors who use it scads of new revenue or clients, it is having tangible benefits for many.

One advisor mentioned in the story, who focuses on individuals with particular interests and successes in charitable giving, has found Twitter to be a valuable way to form relationships with influential figures in the field, such as the heads of well-known foundations.

Another advisor has effectively used Twitter to form relationships with women entrepreneurs, a nice parallel to her goal of developing a financial practice specifically targeted to providing advice to women.

This story is yet another reason that I advise clients that while building their business through Twitter is probably something that would take a long time and might yield relatively few results, Twitter shows great promise when it comes to continually engaging with clients. The main reasons clients leave firms with whom they do business is because they feel the firm doesn't take the relationship seriously enough and is not communicative enough. This is one area where Twitter gives individuals a very easy way to continually work on this thorny issue.