Blog Entries by Loic Jeanjean, Advisor Websites

The Adoption of Google+ in the Financial Services Industry

By Loic Jeanjean, Advisor Websites on Thursday, September 8th, 2011

As you probably know, Google+ is a new social networking site operated by Google Inc.

It has already over 25 million users and will probably become the 2nd largest social networking website in the US by the end of 2012. One key element of Google+ is its focus on targeted sharing within subsets of your social group, which are called Circles. Circles are simply small groups of people that you can share to, each with names like friends, family, classmates and co-workers. This can be really useful to segment your audience and send targeted updated to your clients/prospects etc.

Given the incredible interest that Google+ received over the past few weeks, I thought it would be of value to find out how financial advisors reacted to the launch of this new social networking site and what the adoption rate was amongst members of the financial services industry.

I created a survey covering topics such as knowledge of Google+, adoption rate and overall experience and submitted it to a large number of financial advisors in Canada and the US.

147 financial professionals completed the survey (financial advisors, brokers or RIAs). 23% of which were from Canada and 77% were from the USA.

Key Findings

94 financial professionals reported they had heard about Google+. This represented 64% of the participants to this August 2011 study. On the other hand, 53 hadn’t heard about the new social network launched 8 weeks ago. This was interesting given the amount of press & media coverage received by G+.

I provided the respondents that hadn’t heard about Google+ with basic information about this new social media site before asking them if they would be interested in creating a profile. Surprisingly, only 17% said they would not be setting up a profile which indicates high curiosity and interest. Those who answered they would not jump on board right now stated they were still learning about social media and didn’t have the time to get to know this new tool. Only 10% mentioned compliance as their main reason for not using Google+, which was a surprise.

Most of the financial professionals currently using G+ (50%), learnt about it through media and press coverage. The study also shows that colleagues and friends’ recommendations were the driver for only 20% of the respondents, which was quite a surprise given the nature of social media.

Finally, I wanted to know how many advisors were already using other social networks. A staggering 66% said they were active on Facebook, Linkedin or Twitter.

You can download the full study here:

What’s next? What to look for

There’s been a lot of talk about Google+ replacing Twitter of Facebook. I don’t think this will happen. It will be a new tool in your arsenal which is probably going to integrate beautifully with other enterprise/business tools such as Google Apps, Analytics etc.  Once they let businesses create page on Google+, we will see a surge of new users willing to start using circles, huddles and really take this social site to the next level.

One thing I have already started to notice is how high my Google+ profile ranks in the search engines, particularly in Google! Moving from 1st to 5th place from time to time…

Once last thing, add me on Google+:

About the author

Loic Jeanjean is the Director of Sales and Web Marketing at Advisor Websites . In this role, he is responsible for growing the client base (including RIAs, FAs, CFPs and Wealth Managers), managing the strategic partnerships and distribution channels, and improving the firm's brand image, three areas critical for the growth of He is actively involved in all public speaking appearances and can be found on Twitter or LinkedIn connecting with thought leaders of the financial services industry. Loic is a proud member of the Financial Planning Association® (FPA®) and received his Inbound Marketing Certificate with honors. 

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