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Have you heard of social currency before?
Justin Wisz, co-founder of Vestorly
Before you buy a book, do you visit the reviews on Amazon.com to read what other people said about it?
And before your next dinner out, do you pull up Yelp to find 4- and 5-star restaurant reviews nearby?
Those are examples of social currency. You’re seeking feedback curated by social networks to find the best resource (be it a book, restaurant, mechanic, etc.) for your needs. Many times, recommendations from your immediate social network on Facebook, LinkedIn, or Twitter point you to products and services that have already been vetted by your friends and colleagues.
So how can financial advisers take advantage of social currency?
To answer that question, I connected with Justin Wisz, co-founder of Vestorly, an investment adviser matching service powered by social communities. Hear what he has to say about social currency and how Vestorly can help advisers get the most out of it.
