This white paper uses research and best practices ideas for financial advisors to obtain new clients through participation in different LinkedIn Groups.

1. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
* 2013 user survey by PowerFormula.net
Financial Advisor Network (FAN) - White Paper
Financial Advisors Obtaining Clients through LinkedIn Groups
October 10, 2013
I. OVERVIEW OF FAN WHITE PAPER
Purpose of FAN Study – The Financial
Advisor Network (FAN) studied its own
membership’s participation in LinkedIn
groups, along with other relevant LinkedIn
statistics, to provide guidance on how
financial advisors’ participation in LinkedIn
groups can better enable them to obtain
new clients. This white paper’s objective
is to give financial advisors the ideas,
structure and support that they need to be
motivated to successfully use LinkedIn.
groups.
Over 238 million
people use
LinkedIn
Study’s Conclusions – There is a
strong benefit to professionals, like
financial advisors, to joining and
participating in a number of LinkedIn
groups. Also clear is the need to have
an organized way to identify the best
groups advisors should join, and what
kind of participation to have in those
groups to deliver the greatest benefit,
per time and effort expended.
60.6% of LinkedIn
users feel that
LinkedIn Groups
is the most useful
feature*

2. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
Scale of LinkedIn, LinkedIn Groups & Group Participation – According to LinkedIn’s
2Q2013 quarterly report, there are over 238 million people who use this networking website.
PowerFormula.net, a LinkedIn-based consulting firm, showed in their 2013 User Survey that
60.6% of LinkedIn users feel that LinkedIn Groups is the most useful feature that LinkedIn
provides them. Also, over 1.5 million LinkedIn groups have been created.
Proven Benefits of Participating in LinkedIn Groups – It is common sense that the
more profile views a financial advisor receives, the more opportunities they have to connect with
potential clients. According to an August 20, 2013 presentation by LinkedIn, people who post
or engage in group discussions get an average of four times as many profile views. Two
of the primary reasons people join LinkedIn groups, both good for financial advisors looking
for new clients, are for professional growth and to learn more about a passion they have.
Types and Number of LinkedIn Groups – An August 20, 2013 presentation by LinkedIn
said that LinkedIn members join an average of 7 groups. There is no surprise that FAN’s
own study of its members shows that its members join a slightly higher average number, at 9
groups. The key types of groups FAN members joined: 40% of the groups are advisor
related, with 21% of the FAN members only in advisor groups; 34% of the groups are
networking related, with 67% of all the FAN members in these groups; and 26% of the groups
are in the “other” category, including investments, companies, job search, non-advisor
professions, and interests/sports/hobbies.
II. BACKGROUND OF LINKEDIN GROUPS
LinkedIn Users Show the Value of LinkedIn Groups
for Financial Advisors – The 2013 PowerFormula.net
LinkedIn User Survey asked users how LinkedIn has helped
them. The responses gave an indication of what
potential clients think, like those pursued by financial
advisors: 75.8% of users (the most helpful) said they used
LinkedIn to research people and companies; and 70.6% of
users use LinkedIn to reconnect with past business
associates/colleagues. Also, there were responses that
gave an indication of what professionals, like advisors,
think: 38.5% of users said LinkedIn enabled them to
connect with potential customers; 45.0% of users said
LinkedIn enabled them to build new networking
relationships with individuals who may influence
potential customers; and 44.5% of users said LinkedIn
enabled them to increase their face-to-face networking
effectiveness.

3. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
40% of Groups Advisors Join are Advisor Groups – Each FAN member is in an
average of 3.6 LinkedIn advisor groups, including the FAN group. FAN’s ongoing member
survey work shows a number of key reasons advisors join such groups: to network with
fellow advisors; to obtain business-building ideas; to find out which services/investments
other advisors are using; and to obtain business management ideas.
Recommended min. # of advisor groups: 5
26% of Groups Advisors Join are “Other” Groups – Each FAN member is in an
average of 2.4 “other” LinkedIn groups. These groups are important for ideas and potential
contacts for financial advisors to be more successful. These “other” LinkedIn groups include:
investment products; advisor service providers; companies or B’Ds of advisors; research; job
search; non-advisor-specific sales, marketing and social media (plus many others).
Recommended min. # of “other” groups for advisors: 10
Recommended Total # of LinkedIn Groups – 27 is the combined recommended
minimum number of LinkedIn Groups for advisors. This is three times the current FAN
members’ average number of LinkedIn groups, and almost four times the seven-group average
for all LinkedIn users. In creating a usable range of LinkedIn groups advisors should join, we’ll
use the current average of 9 as a “C” school grade. The recommended number for a “B”
grade is 18, and 27 for an “A” grade.
III. ADVISOR LINKEDIN GROUP STUDY
34% of Groups Advisors Join are for
Networking – Each FAN member is in an
average of 3.0 LinkedIn networking groups.
FAN’s survey showed that: 35% of these networking
groups are for colleges and other schools,
including sororities and fraternities; 39% of these
networking groups are networking-specific, such
as a networking group in a city; and 26% of the
networking groups are the “other” category,
including groups like those for religious beliefs,
social causes or associations (plus many others).
Recommended min. # of networking groups: 12
Advisors are in
29% More
LinkedIn Groups
than the Average
LinkedIn User

4. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
* Buntin Group and Survey Sampling International
IV. LOCATING IDEAL LINKEDIN GROUPS
No Shortage of LinkedIn Groups – With
over 1.5 million LinkedIn Groups created, it
isn’t a matter of there being enough of the right
groups for financial advisors. Instead, the
challenge for advisors is how to find the right
groups to join. Complicating this matter is the fact
that the types of groups each advisor should join
depends upon factors specific to them. These
factors are based on each advisor’s:
1.) client niche(s); 2.) networking approach
and 3.) groups to which their best clients belong.
Advisors’
LinkedIn Groups
Should be Unique
to Them & Their
Advisory
Businesses
1. Advisor’s Client Niche(s) – Even advisors who say they don’t have a client niche or
niches, will see one or more similarities among most of their clients. To help with such an
client evaluation, there are three categories of client niches: 1.) profession-based – this
applies to the clients’ jobs/careers, including types of business; 2.) activity-based – this
includes clients’ hobbies, social circles, interests, volunteer groups, and many others and
3.) life-stage-based – this includes young professionals, retirees, middle age and others.
2. Advisor’s Approach to Networking –
For networking groups, there are regional,
state and national groups to consider for the
three categories: 1.) professional – this
includes lawyers, accountants and other
referral sources; 2.) business – this applies
to all the general business networking groups
and 3.) alumni/association/interests – these
groups are associated with each advisor.
3. Groups of Advisor’s Best Clients – One of the many reasons financial advisors
should connect with their clients on LinkedIn (FAN white paper on this coming up) is that it
enables the advisors to look at those clients’ LinkedIn groups. Take a look at the LinkedIn
groups of the top twelve clients, based on size.
40% of LinkedIn
Users Visit the
Site Daily*

5. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
V. OPTIMIZING LINKEDIN GROUPS
1. Roll Out Group Signups – Following the process reviewed on the prior page, an
advisor should have more than enough LinkedIn groups to join. It is recommended that one
spread out their signups to only three to five a day. This gives the advisor the time it takes
to follow the other LinkedIn group optimization ideas, reviewed below.
2. Send Personal Request if … – Some of the
groups an advisor wants to join aren’t an exact fit for
their profile, like a group for lawyers. To increase their
chance of being approved for these groups, they
should send a personal request to the group’s
manager. You can explain why you feel you should be
approved for the group (e.g., “I work closely with my
clients’ attorneys and I frequently need to find a new
attorney for one of my clients.”)
3. It’s About Networking, not Selling – Between
100,000 to 200,000 LinkedIn group members have
been put into the “discussion review bin” this year
because they are promoting themselves. Have your
Discussion Board postings and responses stick with
the topics covered by that group. After interacting with
someone, the next natural step would be to “take it
offline” to have a discussion.
4. Create a Process & Routine – To obtain the most benefits from participating in
LinkedIn Groups, advisors should have a process, including the following activity:
1.) Discussions on the Discussion Board – The goal could be 6 of these chats each day;
2.) Reachouts for One-on-One talks – The goal could be one of these each day;
3.) Have a set routine each day – This could be 10-15 minutes of effort, twice a day
Active LinkedIn
Group Members
Average Four
Times More
Profile Views

6. Financial Advisor Network (FAN) Michael Sakraida www.FANResources.com m.sakraida@att.net
VI. ABOUT FINANCIAL ADVISOR NETWORK
A Community of Over 11,000 Financial Advisors – The Financial Advisor Network
(FAN) group started is a LinkedIn group that goes beyond LinkedIn to help its advisor
members. We are the largest advisor LinkedIn group that is open to all advisors and only
advisors. In fact, we deny entry into FAN to more people than we approve.
Multiple Ways FAN Helps Advisors –
+ Our www.FANResources.com Website
+ Weekly Newsletters
+ Webinars
+ One-on-One Help
About FAN’s Founder, Michael Sakraida – Mike has over 30-years’ experience
helping financial advisors become more successful. In addition to running the FAN group,
Mike has a consulting firm, which helps advisors, Broker Dealers and financial and
technology companies. Mike also has a speech service for all of these groups.
Joining FAN, Only for Advisors (Free) –
+ Enter Financial Advisor Network (FAN)
into LinkedIn’s search tool
+ Click on registration link on
www.FANResources.com website
+ email Mike at m.sakraida@att.net Michael Sakraida at NYSE