One in five registered investment advisers (or RIAs) in the United States attributes increased revenues directly to their activity on social media groups such as Linked In, Facebook, and Twitter, according to a recent study by BNY Mellon.

The Creating Growth: The Increased Use of Social Media by Independent Advisors report by Pershing Advisor Solutions (part of BNY Mellon), found that the growth of social media, especially social networking sites like Facebook, LinkedIn and Twitter, has exploded and fuelled the development of entirely new models for how companies interact with their customers.

However,...