Putnam Social Media Survey 2014

Putnam Investments
Putnam InvestmentsPutnam Investments
Networked: 
Financial advisors find 
success with social media 
Putnam Investments surveyed over 700 financial advisors to 
learn more about how they are using social media for business. 
The findings are a continuation of research begun in 2012. 
75% 
are using social 
media for business 
Use is steady year-over-year 
THE SOCIAL ADVISOR 
The typical financial advisor 
who uses social media for business 
Has 11 years 
of experience 
Book of business: 
$84M 
Typical client assets: 
$900K 
46-year-old wirehouse 
advisor living in the 
southern or western U.S. 
Is active on an average 
of three social networks 
66% 
gained new clients 
via social media 
Up from 49% reporting 
client gains in 2013 
$5.5M was the average asset gain 
Median = $1.6M 
39% gained new 
assets over $1M 
Up from 29% reporting 
>$1M gains in 2013 
“Social media expanded my clientele 
by approximately 25%. This is a great 
way to recruit new business.” 
FINDINGS: NETWORKS 
LINKEDIN REMAINS THE TOP SOCIAL NETWORK 
55% 
of advisors use as a primary network 
56% 
of advisors gained new business 64% 
of financial advisors 
use LinkedIn 
Business use 
Personal use only 
Do not use 
Numbers may not equal 
100% due to rounding. 
22% 22% 
61% 
18% 
Twitter YouTube 
Instagram Pinterest Tumblr Vine 
Women advisors 
have higher 
social media usage 
82% 
use social media for business 
36% 26% 
25% 28% 
17% 48% 21% 52% 47% 
62% 
13% 
12% 
11% 10% 
Google+ 
Wirehouses 
have the highest 
adoption rate 
15% 
83% 
use social media for business 
76% 
78% 
Advisors under age 30 
blur the lines 
between networks 
94% 
use social media for 
business — highest 
among all age cohorts 
FACEBOOK USE IS ON THE RISE 
OTHER NETWORKS ON THE HORIZON 
FINDINGS: DEMOGRAPHICS 
Most relevant for advisors age 
50-64 years old 
13 times 
average usage in a month 
24% 
of advisors use as a primary network 
83% 
of advisors gained new business 
Most relevant for advisors age 
<30 years old 
21 times 
average usage in a month 
36% 
of financial advisors 
use Facebook 
Up from 22% in 2013 
“My social presence keeps me top of mind with 
clients I can’t speak to on a regular basis.” 
71% 
gained 
clients 
$5.6M 
average 
asset gain 
Median = $1.7M 
67% 
give social media a 
significant marketing role 
83% 
gained 
clients 
$9.6M 
average 
asset gain 
Median = $6.0M 
77% 
give social media a 
significant marketing role 
80% 
gained 
clients 
$5.7M 
average 
asset gain 
Median = $2.6M 
31% 
use smartphones as the 
access device of choice 
Use three or more 
social networks 
for business 
Use more than four 
social networks for business 
Are more likely to consider 
all major social networks 
equally relevant and eective 
Base = Using social media for business. 
“As more people turn to social media as a 
way to connect, it will naturally become 
a more ecient way to communicate and 
build a brand.” 
The 2014 Putnam Investments Survey 0f Financial Advisors’ Use of Social Media was conducted in 
partnership with Brightwork Partners LLC among 729 advisors nationally who have been advising retail 
clients for at least two years. The online study was conducted in late July 2014. 
Putnam Retail Management 291514

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Putnam Social Media Survey 2014

  • 1. Networked: Financial advisors find success with social media Putnam Investments surveyed over 700 financial advisors to learn more about how they are using social media for business. The findings are a continuation of research begun in 2012. 75% are using social media for business Use is steady year-over-year THE SOCIAL ADVISOR The typical financial advisor who uses social media for business Has 11 years of experience Book of business: $84M Typical client assets: $900K 46-year-old wirehouse advisor living in the southern or western U.S. Is active on an average of three social networks 66% gained new clients via social media Up from 49% reporting client gains in 2013 $5.5M was the average asset gain Median = $1.6M 39% gained new assets over $1M Up from 29% reporting >$1M gains in 2013 “Social media expanded my clientele by approximately 25%. This is a great way to recruit new business.” FINDINGS: NETWORKS LINKEDIN REMAINS THE TOP SOCIAL NETWORK 55% of advisors use as a primary network 56% of advisors gained new business 64% of financial advisors use LinkedIn Business use Personal use only Do not use Numbers may not equal 100% due to rounding. 22% 22% 61% 18% Twitter YouTube Instagram Pinterest Tumblr Vine Women advisors have higher social media usage 82% use social media for business 36% 26% 25% 28% 17% 48% 21% 52% 47% 62% 13% 12% 11% 10% Google+ Wirehouses have the highest adoption rate 15% 83% use social media for business 76% 78% Advisors under age 30 blur the lines between networks 94% use social media for business — highest among all age cohorts FACEBOOK USE IS ON THE RISE OTHER NETWORKS ON THE HORIZON FINDINGS: DEMOGRAPHICS Most relevant for advisors age 50-64 years old 13 times average usage in a month 24% of advisors use as a primary network 83% of advisors gained new business Most relevant for advisors age <30 years old 21 times average usage in a month 36% of financial advisors use Facebook Up from 22% in 2013 “My social presence keeps me top of mind with clients I can’t speak to on a regular basis.” 71% gained clients $5.6M average asset gain Median = $1.7M 67% give social media a significant marketing role 83% gained clients $9.6M average asset gain Median = $6.0M 77% give social media a significant marketing role 80% gained clients $5.7M average asset gain Median = $2.6M 31% use smartphones as the access device of choice Use three or more social networks for business Use more than four social networks for business Are more likely to consider all major social networks equally relevant and eective Base = Using social media for business. “As more people turn to social media as a way to connect, it will naturally become a more ecient way to communicate and build a brand.” The 2014 Putnam Investments Survey 0f Financial Advisors’ Use of Social Media was conducted in partnership with Brightwork Partners LLC among 729 advisors nationally who have been advising retail clients for at least two years. The online study was conducted in late July 2014. Putnam Retail Management 291514