“Reach out and touch someone” was the theme of an old AT&T commercial. But phones aren’t cutting-edge technology anymore. Today, advisors are trying to reach potential high-net-worth clients using online platforms that were unimaginable a decade ago.

“It’s still in its early phases,” says advisor Janet Barr of Collaborative Financial Solutions in Santa Barbara, about her social media effort. But she’s way ahead of many of her peers, having started using social media for business two years ago. Barr estimates that some 20% of new inquiries come through social media.

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