JConnelly Insights

Your Weekly Content Update 11.21.14

By on November 24, 2014 · November 24, 2014

This_Week_In_Content This week in content includes increased cybersecurity budgets from financial firms, why financial advisors don’t have time not to use social media, and how Facebook is taking on LinkedIn.

Increased Cybersecurity Budgets for Financial Firms

Following multiple cyberattacks that have made news headlines recently, financial firms plan to add $2 billion to their cybersecurity budgets. The number of financial firms that lost more than $10 million from cybersecurity incidents increased more than 140% from just a year ago. Banks and investment firms are being especially cautious due to frequency of cyberattacks and sensitivity of client data.

Your Clients are Someone Else’s Prospects on Social Media

If you’re not on social media, you may be putting your ego before your bottom line. Social platforms are for the general public now rather than just the tech-savvy, and clients want to connect with their financial advisors online. Advisors can reach the younger generation in particular and analyze connections with clients and prospects by utilizing social media.

To read more on social media’s coming of age, click here.

Facebook at Work

Facebook is quietly working on a version of its site for the workplace. The new tool is meant to take on competitors like LinkedIn. Users will be able to separate personal connections and posts from work-related ones as the benefits of communication on social media expand to the corporate world.