Study: More Financial Advisors are Using Twitter For Investors

Study: More Financial Advisors are Using Twitter For Investors [Social Media]

Study: 61% of Financial Advisors are Using Social Media Every Week

Social advisors. A study from American Century Investments reveals that 34% of financial advisors are now using twitter to connect with investors.  61% are using social media weekly.

Study: 61% of Financial Advisors are Using Social Media Every WeekFour out of ten professionals use social media for business purposes, an increase from the 31% last year. However, the number of financial advisors using social media daily dropped to 10% from the 16% in 2012.

According to the American Century Investments (@AmericanCentury), Twitter usage increased significantly from 27% last year to 34% this year. The study found that 9 out of 10 professionals have social media accounts. Also, more financial professionals use social media to share relevant news to clients. In addition, reading expert commentary tops the social media usage with 28%, followed by 14% for research, 13% to share relevant content, and 11% to build brand and promote business.

LinkedIn is still the popular choice for businesses with 75% of users, followed by Facebook at 34%, then Twitter at 16%. On the other hand, Facebook led when it comes to personal use with 81%, followed by Twitter at 26%, and LinkedIn at 20%. Instagram is a new addition at 11%.

57% of financial professionals feel social media as an emerging trend with significant future potential for their businesses, an increase from the 10% of 2010. Companies also think so with an increase to 69% from the 53% of 2011 and 60% of 2012.

In 2013, 34% believe that social media is a wise use of asset managers. 53% think that they are smart to explore social media. One out of three believes that they are not seeing the value of social media.

LinkedIn groups are the most important with offering asset managers at 19%, providing an advisor community at 18%, and blogging with 13%. In terms of content, commentary and market insight ranked 1st with 59%, followed by market news and education content at 58%.

Key Stats

  • Financial advisors using social media increased to 61% from the 58% in 2012
  • 4 out of 10 use social media for business purposes this year
  • Financial advisors using social media daily dropped to 10% from 16%
  • Twitter for investors: twitter usage increased from 27% to 34%
  • 9 out of 10 professionals have social media account
  • Social media usage is topped by 28% reading commentary, 14% research, 13% sharing of relevant content, and 11% building brand and promoting business
  • LinkedIn is the most popular social media for business with 75% of users, Facebook with 34%, and Twitter with 16%
  • Facebook is the most popular for personal use with 81%, Twitter with 26%, LinkedIn with 20%, and Instagram with 11%
  • Belief that social media is an emerging trend increased from the 10% of 2010 to 57% this year
  • Companies believing that social media is an emerging trend increased from 53% in 2011 and 60% in 2012 to 69% this year
  • 34% believe that social media is a wise use, while 53% think it as smart to explore
  • 1 out of 3 believes they are not seeing the value of social media
  • LinkedIn groups are most important in offering asset managers at 19%, providing advisor community at 18%, and blogging at 13%
  • Commentary and market insight rank 1st in content with 59%, followed by education content and market news at 58%

Jamie Needham, digital marketing strategist for American Century: “Our study found that more financial professionals are using social media to share news relevant to their clients.” 

Covered by my Visible Banking Team

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As a personal investor you might have started to use social media yourself to check on the latest industry news and make better investment decisions.  Then, wouldn’t you be more likely to work with a social advisor who is also sharing insights and engaging on social media or tapping twitter for investors?

We invite you to share your thoughts about the role of social media in banking and finance, here, via twitter or on our Facebook page.

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