A "tech-savvy" approach for today's advisors involves a clear understanding of how to make the best and most appropriate use of social media channels, ranging from Instagram to YouTube.

Raymond James has expanded its digital marketing program for financial advisors, tapping into the power of social media such as Instagram Professional. It plans to launch YouTube and Spotify podcasts in coming months.

Since 2011, the US-listed firm has supported clients to post content on platforms such as Facebook, LinkedIn and Twitter. Advisors can choose from different options, ranging from self-driven, custom content to sharing from a pre-approved library of curated content using the firm’s internal RJ Connect portal, which is integrated with email and custom advisor website support. RJ Connect has more than 10,000 active users among Raymond James advisors and branch associates.

The latest developments are examples of how wealth managers are being encouraged to deepen their use of modern channels in order to reach out to rising generations of HNW individuals and build new revenue streams following the disruptions of recent years. In August last year Raymond James introduced a new education offering called Tech Savvy that is aimed at advisors.

“For advisors investing in marketing and creating engaging content, these digital platforms are powerful tools to connect with clients and prospects on their platform of choice,” Erica Sackett, vice president of marketing and digital strategy, said. “The addition of Instagram Professional creates an opportunity for advisors who work with next-generation clients to access the typically younger demographic of that channel. While YouTube and Spotify podcasting offer a space for advisors who are experienced content creators to leverage rich audio and visual components.”

Raymond James Marketing + Agency Solutions delivers industry knowledge, strategic planning and innovation to help advisors build and promote their brands. The full-service department has more than 50 associates.