LinkedIn Financial Services Webinar Part 1 - 6-13-2012

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High Net Worth Investors Pt. 1 - Social Media’s Influence Among Affluent Investors

This deck takes a closer look at new research from LinkedIn and Cogent Research about how affluent investors use social media to inform their finance decisions. By Marie Rice and Chris Savio from Cogent Research and Jake Raroque from LinkedIn.

Published in: Economy & Finance, Business
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  • LinkedIn Financial Services Webinar Part 1 - 6-13-2012

    1. 1. Financial Services Webinar SeriesHigh Net Worth Investors Pt. 1Social Media’s Influence Among Affluent Investors #INfinserv
    2. 2. Today’s speakers Jake Raroque Research Consultant LinkedIn Marie Rice Practice Director Custom Research Cogent Research Chris Savio Project Director Cogent Research #INfinserv 2
    3. 3. Agenda – High Net Worth Investors, Part 1§  The Research Approach§  Today’s High Net Worth Investors§  Social Media and the High Net Worth Investor§  Social Media and the Financial Services Industry§  Recap§  Q & A§  Next event – June 19 #INfinserv 3
    4. 4. Methodology#INfinserv 4
    5. 5. Methodology Partnered  with  Cogent  Research   Strategic  consultancy  specializing  in  the  investor  popula4on     Online  survey  among  608  respondents  in   the  U.S.  and  Canada   At  least  $100K  investable  assets*   *  Excludes  primary  residence  and  vaca4on  property   #INfinserv 5
    6. 6. Today’s High Net Worth Investors #INfinserv 6
    7. 7. High Net Worth Investor profiles Mass Affluent Affluent Ultra Affluent ($100k < $1M) ($1M < $5M) ($5M+) 0 Gen Y/X (<47 yrs) 5% 2% 24% 16% Boomers 42% 39% (47 – 64 yrs) 52% 59% Retirees 59% (65 yrs+) 0 Male 23% 36% 52% 48% Female 64% 77% 0 18% 28% Advised 46% 54% Unadvised 72% 82% #INfinserv 7
    8. 8. Ultra Affluent are more likely to research theirinvestments... Investing Style Does not rely 23% 28% on Advisor 34% Use Advisor & 46% do own 35% 51% research Completely 31% 31% rely on Advisor 21% Mass Affluent Affluent Ultra Affluent ($100k < $1M) ($1M < $5M) ($5M+) Base: HNW Investors Which of the following statements best describes you when it comes to your investing style? #INfinserv 8
    9. 9. ... and Ultra Affluent are considerably more likely to beactive in their investing Investing Philosophy 4% 6% 8% 23% Heavy Active traders 22% (10+ trades/month) 19% Light Active traders (3-9 trades/month) 89% 72% 58% Non-Active traders (<3 trades/month) Mass Affluent Affluent Ultra Affluent ($100k < $1M) ($1M < $5M) ($5M+) Base: HNW Investors In a typical month, how many times do you buy or sell stocks, mutual funds, bonds, ETFs or options using a self-service online trading system ? #INfinserv 9
    10. 10. With increased affluence comes greater investment product diversity Product Ownership Mass Affluent Affluent Ultra Affluent Average Investment Products Owned: 5.2 8.0 9.1 Investment Accounts: 401(k), 403(b), 457, or other defined 71% 52% 41% contribution accounts IRA 60% 72% 80% Brokerage account 55% 95% 95% Investment Products: Corporate stock 47% 80% 93% Mutual funds 74% 83% 76% ETFs 7% 31% 46% Base: HNW Investors▲/▼ = Significant difference Which of the following investment accounts do you currently have? Which of the following investment products do you currently own? #INfinserv 10
    11. 11. Social Media and the High Net Worth Investor#INfinserv 11
    12. 12. Who uses social media? Social Media Non-Social Media Users Users 0 Gen Y/X (<47 yrs) 7% 22% 16% Boomers (47 – 64 yrs) 28% 65% Retirees (65 yrs+) 62% 0 2% Mass Affluent ($100k < $1M) 1% 8% 8% Affluent ($1M < $5M) Ultra Affluent ($5M+) 91% 90% 0 Soloists 17% 28% 35% Validators 52% 32% Delegators 37% #INfinserv 12
    13. 13. Social media users are engaged with their finances % OF ASSETS MANAGED WITHOUT AN ADVISOR +120% 57% 26% 82% are 54% are advised advised Non-Social Social Media User Media User Base: Advised HNW Investors What percent of your total investable assets are managed in each of the following ways? #INfinserv 13
    14. 14. Investors are on different platforms... but for differentreasons % of High Net Worth Investors using... 75% 71% 24% Base: HNW Investors How long ago did you start using each of the following social media sites/services? For what purposes do you use the following social media sites/services? #INfinserv 14
    15. 15. Social Media and the Financial Services Industry #INfinserv 15
    16. 16. Social networks, and LinkedIn specifically, areinvaluable finance resources 5 Million Investors with $100K+ assets who use social media to research and make financial decisions 73% 53% 29% Topic-specific discussion boards Other social platforms combined SOCIAL PLATFORMS USED FOR RESEARCHING AND MAKING FINANCIAL DECISIONS Base: HNW Investors using Social Platforms for Financial Research What  external  resources  do  you  use  when  researching  and  making  financial  decisions?   Which  of  the  following  social  media  pla@orms  do  you  use  for  researching  and  making  financial  decisions?     #INfinserv 16 16
    17. 17. Social platforms are used to both research and reviewinvestments Seek advice or information to help me make 43% an investment decision Pre- Gather preliminary information about 39% investing, products, or companiesPurchase “Double-check” something my advisor 26% suggested Evaluate or re-think an investment decision 44% I have already made Post Share a negative experience 17%Purchase Share a positive experience 14% Base: HNW Investors using Social Platforms for Financial Research At which of the following points do you turn to social media? #INfinserv 17
    18. 18. Social media adoption can have a favorable impact onbrand perception % that would perceive a financial company as “innovative,” “a leader,” or “cutting edge” if they offered social media tools 44% 31% 24% Overall Among those who use Among those who DO social media for NOT use social media financial reasons for financial reasons Base: HNW Investors To what extent do you agree or disagree with each of the following statements? #INfinserv 18
    19. 19. With a social media presence comes increasedexpectations for information and connectionBecause of social media, I expect more: Relevant and timely 52% content and updatesGreater transparency of 46% information Real-time interaction/ 45% conversation Improved customer 38% service Base: HNW Social Media Users Because of social media, I expect from financial services companies: #INfinserv 19
    20. 20. Investors want both market and company informationvia social media Information Expected on Social Media Market and economic trends and 73% commentary New product information 62% Company background 59% Product performance updates 54% Best practices, Case Studies / 38% Thought leadership pieces Moderating a group discussion 21% Base: HNW Social Media Users If a financial services company were to use social media, what types of information would you expect to receive from it? #INfinserv 20
    21. 21. Investors aren’t interacting with their advisors viasocial media, but a majority would value itDisconnect in Advisor Social Media Interaction 87% Of advised use social media 4% Currently interact with their advisor via social media 52% Would find value in doing so Base: Advised HNW Investors Do you currently interact with your financial advisor via social media? In which of the following would you find value in interacting with your financial advisor via social media? #INfinserv 21
    22. 22. Investors would most value news and market updatesfrom their advisors Types of Desired Interaction Staying informed about timely 69% news updates and market trends Receiving more frequent 44% communication Participating or listening to discussions regarding financial 40% topics Engaging in interactive conversation via screen sharing/ 19% webex session Base: HNW Investors Who Want Advisors to Use Social Media In which of the following would you find value in interacting with your financial advisor via social media? #INfinserv 22
    23. 23. Recap#INfinserv 23
    24. 24. Today’s High Net Worth Investors … – In distinct segments, yet similarities – Engaged in finances – Are on a financial continuum – Use social media as a financial resource #INfinserv 24
    25. 25. Financial Services Industry … – Vary strategies by social media platform – Establish a presence and actively engage – Educate, not sell, to build relationships – Build your brand for the next generation #INfinserv 25
    26. 26. Next event:High Net Worth Investors Pt. 2 June 19 #INfinserv 26
    27. 27. Thank you for attending part one of ourFinancial Services Webinar SeriesLearn how marketers have successfully met their objectives: http://marketing.linkedin.com/success-stories Learn how you can reach this audience: MktgSolutions@linkedin.com #INfinserv 27

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