Women spend more time on social media networks than men.
Compared to men, women’s behavior on social media is more
relationship-driven: They spend more time on social networks building
relationships and making new friends. Women are referral machines –
who enjoy giving feedback and making recommendations on social
7/10 financial advisors are already using social networks for
business purposes and this adoption rate will only continue to
In 2013, 69% of financial professionals have formal
social media policies at their firm, a significant increase
60% of financial advisors have daily contact with clients through social
media, with 54% citing that they found or converted clients using social
15.4% of advisors have gained new clients from
using social media.
At the 2013 Social Media Summit hosted by Jennifer
Openshaw, we asked top financial advisors: “How
long were you using social media before you could
see a discernible difference in your business?”
The answer is between 6–12 months.
¾ teens visit social media sites on a daily basis.
Young people still use search engines to get information from websites,
but more and more are now asking and searching about products and
services through social media.
38% of young millionaires compared to 4% of millionaires of all ages
state they are more inclined to rely on financial product and service
information advertised or discussed on social media platforms.
Do you rely on *inancial product and service information advertised or
discussed on social media platforms?
Young millionaires Millionaires of all ages
Fact: How financial advisors use social media to
communicate with clients will, indeed, impact young
millionaires’ decisions about hiring a new financial advisor.
Only 13% of directors and senior executives don’t have at least
one social media account and 63% of them use social media for
Over 90% of high net worth investors participate in social media.
These investors tend to do research online before making their
Monitoring, tracking, and archived
reports for all social media activities
One-stop Social, Connect
Using one-stop social media to connect
with investors, advisors, asset
managers, listed companies and
research, investment insights,
presentations, brochures, and/or prod
 Forrester Research - North American Technographics® Financial Services Online Benchmark Recontact Survey,
Q3 2011 (US)
 LinkedIn & Cogent Research – Influencing the Mass Affluent
 Cogent Research of 4,000 investors with more than $100,000 in investable
 Fidelity Investments survey 2011
 Cogent research – Social Media’s Growing Influence Among High Net Worth Investors 2012
 Burst Media 2013
 Pew Research Center - Internet & American Life Project Spring Tracking Survey, April 17 – May 19, 2013.
 Nielsen- The social media report 2012
 KRC research- The women of social media 2012
 Nielsen , Women of Tomorrow 2011
 Bureau of Labor Statistics 2012
 2012 Virginia Tech Study
 2010 Prudential high net worth investors report
 Wells Fargo’s First Clearing brokerage and the Cannon Financial Institute. 2012
 LinkedIn – Financial advisors’ use of social media
 American Century Investments – Financial Professionals Social Media Adoption Study 2013
 Accenture – Closing the Gap How Tech-Savvy Advisors Can Regain Investor Trust 2013
 InvestmentNews- Advisers & Social Media Survey 2013
 Financial Advisor Magazine & Finect’s Webinar – Strange Bedfellows – Compliance and Social Media
 PewResearchCenter - Teens, Social Media, and Privacy 2013
 Spectrem Group - Millionaire 2012, Volume 3 -Relationships with Advisor
 Spectrem’s Millionaire Corner - wealth level study 2013
 Stanford University - What Do Corporate Directors and Senior Managers Know about Social Media 2013
 Cogent research – Social Media’s Growing Influence Among High Net Worth Investors