COVER STORY

Cancel culture be damned . Some advisors are aggressively using social media to take on hot-button issues , including politics and activist investing . BY TRACEY LONGO

ONVENTIONAL WISDOM MAINTAINS THAT most business people should not discuss controversial topics like politics with clients . Simply put , the downside of alienating prospects outweighs any upside of enhancing bonds with like-minded individuals . But are the majority of advisors following this accepted belief playing it too safe on social media ?

David Bahnsen pulled up stakes as a managing partner at Morgan Stanley 10 years ago to create his own firm and enjoy the freedom to discuss both politics and the markets on his social media and elsewhere . In the ensuing decade his firm ’ s assets have soared to $ 4.5 billion from $ 700 million — growth he attributes to his growing media presence .

While incorporating potentially polarizing social media posts into a brand is not for everyone , Bahnsen , the

managing partner and founder of the Bahnsen Group in Newport Beach , Calif ., is part of a small but growing cadre of advisors who are fearless about taking on controversial topics , including the upcoming presidential election and public and corporate policies they believe are failing .

“ Politics are a huge part of my life . What I ’ m able to do is defend intelligently our belief system , which attracts like-minded people to our firm ,” says Bahnsen , a self-described “ momentum conservative .”

On August 5 , Bahnsen posted a video to X ( formerly Twitter ) in which Ron DeSantis speaks at a New Hampshire town hall meeting . DeSantis emphasizes in the video that he will ignore President Donald Trump ’ s anticipated personal insults and focus squarely on policy . “ If this argument isn ’ t compelling to voters , we deserve to lose ,” Bahnsen wrote .

ARTWORK VIA GETTY IMAGES SEPTEMBER 2023 | FINANCIAL ADVISOR MAGAZINE | 41