Never underestimate the power of LinkedIn. In a recent survey, 70 percent of respondents listed LinkedIn as the social-media platform they are most likely to consult in their search for financial services. LinkedIn is continually adding new features attractive to both clients and advisors, making it a powerhouse marketing tool.

Here are 3 tips for using LinkedIn to grow your business:

1.     Engage. It's no secret that the key to social media is engagement. Using LinkedIn can enhance your client relationships and help you cultivate prospects. To do this, you have to engage, participate and be active in the conversation; LinkedIn is no longer a passive digital resume. Here are a few ways to engage: 

• Post content relevant to your current and potential clients.
• Utilize InMail to introduce yourself to prospects.
• Jump in on Group conversations.
• Comment, like and share posts made by your connections.
• Congratulate. The "congratulations" feature is valuable for reaching out to a client or prospect who has been promoted or achieved another work-related success.

2.     Utilize Groups. The Groups feature is one of the most robust LinkedIn features, allowing you to connect not only with like-minded professionals but also with local organizations within your community. There are more than two million groups on the platform, with another 8,000 being added each week. Check the LinkedIn profiles of your top five clients to see which groups they belong to and then join. If you can't find a Group that suits you, create one of your own.