Most provocative tweets of the RIA week
Market melee sets advisors a-Twitter using humor, sarcasm, downright frustration and off-color language to express themselves
3 min read- RIAs vented market frustrations on Twitter during recent volatility.
- Advisors blamed Congress, the Fed, and the President for market woes.
- Tweets ranged from sarcastic to emotional, reflecting advisor sentiment.
Brooke’s Note: People talk so clinically about social media as a means of winning clients and influencing prospects. Underrated, perhaps, is its importance as a means of blowing off creative steam to your 842 best friends.
On bad market days, advisors are typically glued to their phones talking clients down from the ledge. This week, as the market spiraled out of control, some RIAs chose to vent on Twitter.
On Monday, the Dow Jones Industrial Index plummeted 635 points. The wild ride continued Tuesday the Dow roared back 429.92 points.
I follow many advisors, RIAs and financial service leaders on Twitter. It’s no surprise that these Tweets can be sarcastic, emotional, raw and some include some off-color word choices. The financial Tweeters I follow weren’t shy this week about blaming Congress, the president or the Federal Reserve for the markets’ woes.
What three highly wired financial advisors have to teach us about social media
Here is a sampling:
- Andover Equity Investment Group LLC, (@ex_wirehouse): “I see dead rookies.” And: “if any one has seen moves like this b4 you must have been doing this a lot longer than I.”
- Michael Kitces, publisher of The Kitces Report, (@MichaelKitces): “It’s amazing how everyone’s perspective changes once someone declares the emperor has no clothes.”
Story Timeline
- Josh Brown, New York-based advisor at Fusion Analytics, tweets on his own personal account at: (@ReformedBroker): “Sacrificing that Smurf on the trading floor today was a good move.” He also wrote, “Who will start the Brokers With Their Heads Up Their Asses Blog.”
Three ways to use social media in turbulent markets
- Atlantic Capital Management, a West Palm Beach, Fla.-based independent advisory firm, (@AtlanticCapMgmt): “Dow futures down 278. Running over anyone who was expecting a bounce.”
- Matt Oechsli, industry speaker, (@MattOechsli): “Stop listening to the news! Media thrives on negativity. How much different are the serious economic indicators since 10 days ago? Nada!” Oechsli also tweeted: “By the way, how much credibility does the S&P have? Remember, they contributed to this crisis /AAA ratings to junk!!”
- Jeremy Voh, Advisor (@JeremyVoh): “Setting up for another ugly day on Wall St. tomorrow. Even so, I’m kind of excited to take part and make some money.”
- Cathy Curtis, advisor, San Francisco-based Curtis Financial (@curtisfinancial): “All of this volatility is making me hungry.” Over the weekend, she tweeted, “It’s hard to relax over a weekend preceded by such turmoil in the markets – other FA’s feel the same?”
- Diahann W. Lassus, advisor and president of Lassus Wherley Associates in New Jersey (@diahannlassus): “Message to Washington – Definition of Insanity: Continuing to do the same thing and expecting a different result.” She also posted this tweet, “Washington needs a group of smart Financial Planners about now. We know all about balancing budgets.”
- Rick Kahler, advisor with Kahler Financial in Rapid City, S.D. (@RickKahler): “Client today says she will continue her personal investment policy adopted in Dec. 2008 of not opening her statements.” He also posted, “Dow is bouncing like a ping pong ball. Perfectly and predictably irrational.” In another tweet he stated, “Wall Street has now joined Main Street in giving a resounding vote of 'no confidence’ to #Congress, the #Fed and the #President.”
Don’t forget to read Lisa Shidler’s Tweets: @Lisshidler and RIABiz’s Tweets: @RIABiz .
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