How social media powered millennial-focused practice

investmentnews.com:

It wasn’t until Thomas Kopelman left the constraints of a traditional broker-dealer that he was able to unleash the full potential of his social media strategy.   

His instinct told him early on that the industry’s methods of client acquisition at the time felt wrong. Being told to attend every networking event and come back with a certain number of leads felt antiquated. “Financial advice shouldn’t be a numbers game,” he insists.  

Instead, Kopelman, who is based in Indianapolis, believed in the power of social media to allow advisors to connect with clients genuinely seeking financial guidance. But the traditional setup was restrictive.

“I couldn’t post without a week-long approval process, couldn’t blog, podcast, or even tweet freely. I knew I had to make a change,” he said.  

Just over two years ago he co-founded AllStreet Wealth, a fee-only financial planner that targets millennials, and soon reveled in the freedom. Social media has been the catalyst for the company’s rapid expansion.  

“It’s predominantly Twitter,” Kopelman explained. “While we engage with various platforms, Twitter unequivocally emerges as our top lead generator.  

“On a relatively quiet month, I can confidently expect around 12 potential clients reaching out via Twitter. In more active months, this figure can even climb to 25,” he said. “Our calendar for the upcoming months is almost full. We’re set to onboard four households each in October and November. And while December will see a brief hiatus, I’ve already onboarded a client for the onset of next year.”   

Such a consistent stream of clients has positioned AllStreet Wealth well for the future. The burgeoning demand also prompted the firm to recalibrate its pricing model. Its revised fee