CORRECTED-YOUR PRACTICE-Advisers hope Pinterest will draw client interest
(In the 11th paragraph, corrects the assets under management of Betterment to more than $160 million, not $90 million.)
By Beth Pinsker
NEW YORK, March 15 (Reuters) - The Pinterest page for Brian Wruk's advisory firm has little in the way of investment advice - and not just because he is concerned about sticky compliance issues.
The firm, Transition Financial Advisors Group, has turned to the social media scrapbooking site as part of a strategy to attract new clients by posting search-friendly and potentially viral content on the Internet.
Wruk is something of a pioneer among financial advisers in using Pinterest, which allows firms like his to "pin" photos and other visual items to virtual bulletin boards. Other users can then find and repin the material to their own boards.
A handful of other financial advisers, investment firms, credit unions, tax preparers and personal finance advice sites are testing Pinterest to see if the primarily visual medium lends itself to the financial services industry.
Wruk, whose Gilbert, Arizona-based firm manages $100 million in assets, caters mainly to Canadians moving to the United States and Americans moving to Canada who need help with the financial implications of the transition. His Pinterest page caters to them with moving tips and glamorous photos of famous sites in the two countries, as well as cover shots of Transition's latest publications.
The new page only has two followers so far, but Wruk plans to try to attract more after as tax season ends.
"It's part of an overall integrated package to let people know we're out there," he said. "Pinterest, LinkedIn, Facebook - all of that drives traffic to the website." Continued...