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Panacea Adviser launches social media subscription service

Derek Bradley MM Profile 480

Panacea Adviser has launched a social media subscription service which aims to help advisers communicate with clients through Twitter, Facebook and LinkedIn.

Panacea Social Stream has been created to assist advisers in informing their clients of the latest industry news, create product-specific information and help drive additional traffic to their firm’s website.

The service offers two packages – the first, sponsored by M&G Investments, is a pre-prepared industry-specific content package which includes a weekly allowance of two blogs, five Facebook updates, five LinkedIn updates and five ready-to-use Tweets.

The content will change weekly and the allowance will be allocated to advisers on a daily basis. Once received, the adviser can post it on their firm’s website or social media profiles.

Advisers can subscribe to this package under a 30-day free trial until the end of May, after which they will be charged an introductory fee of £59 per month until 30 September. The adviser can then sign up to a 12-month subscription for a one-off fee of £708, or continue using the service on a pay-as-you-go basis for £119 per month.

The second package is a “bespoke content strategy and social media plan”, aimed at advisers who want to embrace a more in-depth approach to social media. A social media expert will work with advisers individually in order to create tailored industry content that is relevant to their business and help them to learn more about adopting social media strategies within their firm.

This service will be charged on an individual basis dependant on adviser requirements.

Panacea Adviser chief executive Derek Bradley says it is more important than ever for advisers to think creatively about ways to engage with current and potential customers.

He says: “While social media is a great way to interact with and educate customers, creating content and keeping it up-to-date can be extremely time-consuming. We are excited that the Panacea Social Stream will take away this time and resource burden by providing content and allow the adviser community to reach out to clients in a new and important way.”

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Comments

There are 9 comments at the moment, we would love to hear your opinion too.

  1. Yet another firm looking to rip advisers off with some’s subscription-based service which is not necessary. I thought with the introduction of RDR financial services was meant to get easier if you don’t have the certificate you’re not able to advertise the service.

    How many websites are there at present on a Google search for financial advice that do not hold a current SPS certificates. There’s a big difference between providing fixed adverts with a journalistic piece and collecting data, and selling that data on to multiple firms.

    These firms may think that £59 per month for their particular services cheap at times that by multiple firms and you start getting a ridiculous amount of costs that eventually get passed on to the consumer!

    I for one would like the FCA to clarify what the actual rules are in respects to lead generation firms and other companies looking to move into this area. Or are we simply going to wait for multiple scams to happen before the regulator takes action.

  2. Derek Bradley ceo Panacea Adviser 10th April 2013 at 3:40 pm

    @simple truth

    I read your comments with some interest and considerable sadness as it is clear you have no idea what this service set’s out to provide.

    Where would any business be today without a website, email or mobile phone? Social media is growing in the same way as these communication methods did. Not everyone gets why they need it, but eventually everyone will. The sooner firms adapt the sooner they will start to see the results.

    The Panacea Social Stream is a subscription-based service that will provide firms with improved knowledge about social media, strategy, with timely, relevant, compliance-approved content. It has been designed to trigger a response from existing clients, increase website visits and generate new client growth.

    I would strongly advise you and any others reading this to visit this link, http://bit.ly/12HYaYj which explains a lot more about why, how, when, what and where this will help.

    It also includes some adviser trial case studies.

    Panacea Adviser is not in the market of “ripping off” anyone and has built a reputation based upon providing a huge amount of support for free to a community of around 17,000 individuals.

    This service will be a very valuable one for adviser firms and the only way we can provide this support is to make a modest charge that is in this case less than 50% of an average firms hourly fee rate.

  3. I think you missing my point the consumer has no idea at present what is authorised and unauthorised and to have yet another website providing information just adds to the confusion. If you’re opening up a consultancy aimed at helping IFA’s with their existing websites then I would have no particular problem.

    The marketplace at present is swamped with marketing firms opening up their own website to try and get IFA’s and other authorised staff to either write articles or pay for clicks or direct leads.

    We have already seen a number of potential problems caused by lead generation sites and some unauthorised product providers.

    My concerns primarily are about consumer safety particularly with older clients who find the Internet a confusing place. If you were to do a simple search online for financial adviser the first five or six searches would be marketing firms. So maybe now you can see my concerns is not being negative is actually being concerned about consumer safety.

    I’m also concerned about how these marketing firms are effectively raising the price of advice for the consumers. Yours will not be the only service in the marketplace so for an IFA to get exposure he will have to join multiple services. This cost will ultimately have to be recouped by increased hourly rates e.g. the consumer pays.

    With government and FCA so concerned about cost of advice maybe they would like to take in consideration that particular point!

  4. Hello Anon, thank you taking time out of your day to raise these important points. I share your concern for the professionalism of the financial advice on offer to clients.

    There are tens of thousands of searches for financial advice everyday through Google. The thought that they end up on unscrupulous sites is appalling. That’s why the referral system is so important to advisers for finding clients, and why clients check advisers out online before they speak to them.

    We can’t rely on the regulators to put this right; I think it’s up to the financial profession to remedy. It is incumbent on all advisers to have a compelling online presence.

    That’s why we built the Social Stream service and why Derek and the PanaceaAdviser.com team recognised straight away how it could help advisers. We have some case studies on the Panacea Social Stream site that show how quality social media content can empower financial advisers to demonstrate their expertise to clients. And why it’s worth paying for.

    So here’s my offer to you: Try our service for FREE for 30 days, and if you still don’t think it’s value for money, I’ll buy you lunch.

    I am the founder of Social Advisors Ltd., Panacea Adviser’s partner. I have a CFA UK Level 4 Qualification, a Professional Post Graduate Diploma in Marketing and an International MBA. I am not a fly by night and I have never ripped anyone off.

  5. I can support Derek’s assertions.

    I have been involved with the initial groundwork for this scheme and it is most impressive.

    As advisers we can poke our heads in the sand and say “don’t worry my clients will always come back” or we can be proactive and look to provide additional information to thrm with the expectation of attracting new clients who wish to deal with forward-thinking advisers.

    How many of us pay diffgerent organisations for servcies – Trigold, Mortgage Brain, CIExpert, O&M Pensions Profiler, etc? My office costs £48,000 p.a. to run so an investment in time must be worth it.

  6. @ Simple Truth

    Derek’s a good guy and no rip off merchant – I’m afraid you are ‘ Simply Wrong’ on this one !

  7. derek Bradley ceo Panacea Adviser 11th April 2013 at 9:14 am

    @simply truth You write “If you’re opening up a consultancy aimed at helping IFA’s with their existing websites then I would have no particular problem”

    Please take up our offer and i think you will find it does what exactly you suggest and a lot more.

  8. Once again you’re missing my point what is the point of having an authorised system for financial services when companies like Panacea Adviser can operate without authorisation.

    You are either a support service to financial advisers or a website providing content that should be authorised. I’m a simple chat and you either have the same rules for all or you have none at all and that I’m afraid is where financial services has been going wrong for the last 20 years we seem to create a rule but it only applies to one part of the industry the other seems to get away scot-free.

    For example if a financial adviser operates a website all of that companies content has to comply with strict marketing rules, but that same adviser could open up a lead generation firms and be totally exempt from those same strict rules according to the regulator. That simply is not fair and also is considerably misleading to the client and is an accident waiting to happen!

    Even a well known and well run website like unbiased.com is not authorised and regulated surely that cannot be right. That means that that company which does a good job isn’t contributing to the cost of regulation. IFA are often bleating on about the cost of regulation but if there are companies out there making potentially millions of pounds worth of profit with no contribution to the financial regulator – is that right NO.

    Alan

    In a recent article you were bleating on about the cost of regulator and the fact is that they don’t seem to regulate efficiently – the fact is we don’t need new rules in financial services we just need the existing legislation to be enforced fairly across the profession.

  9. Hi Peter,

    Panacea Social Stream does indeed offer a support service to financial advisers. A service to use content that is independently compliance checked against FCA promotional material rules. Plus, support on how to use it effectively.

    I have every confidence you will see the value of the service when you use it yourself.

    Simon.

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