The cons of outsourcing social media activities far outweigh the pros, according to an independent financial services consulting firm.

As many advisers cannot find the time for social media interaction, delegating the job to external experts creates more free time for the adviser and uses a specialist who understands social media better than the adviser, which could also result in building the adviser’s brand.

However, i-Impact Group president Claudio Pannunzio said there were consequences of using external help with social media strategies and therefore those activities should be kept in-house.

The negatives include the loss of the company’s voice and the adviser relinquishing control of what is posted online.

In addition, there was potential exposure to greater risk that the delegated person might say something wrong that could lead to “a social media nightmare”, Pannunzio said.

Furthermore, the adviser has to pay the social media specialist.

“If an adviser cannot find the time for social media interaction, then the task should be assigned to an employee,” Pannunzio said.

“He or she not only knows the adviser’s business and what they’re looking to accomplish on social media, but more importantly will articulate it using the language of the practice.”

Furthermore, the interaction by the adviser with their network on social media was more important than building their network, he said.

“Social media, as the name infers, is social in nature; it should be used to identify common social denominators that associate the adviser with the audiences they want to reach,” he said.

“A Facebook page that shows the adviser’s involvement with family, community, university or philanthropic activities enables them to share with clients and prospects the personal side of their life.

“Ultimately, this will empower the adviser to establish a stronger bond with the target audience.”

The adviser’s mere presence on social media did not guarantee new business and their followers could perceive account inactivity, consequently making them no longer valuable, he said.