Facebook is the most widely used social media platform among affluent investors, finds a survey conducted by Spectrum Group (a consulting & market research firm based in US) and Vanguard.
The survey captured the views of 1,500 mass affluent, 1,000 millionaire and 500 ultra-high net worth households in 2014 based in US.
Among all age groups, Facebook is the most widely used platform by the ultra-rich.
The survey shows that although Facebook is the most widely used social media platform among affluent investors, other more business and information-focused channels are gaining popularity. For instance, Twitter was a source of financial information for nearly one-quarter of millionaire and UHNW users. Also, people in the age group of 36-44 years seemed to prefer LinkedIn (58%) more than Facebook (55%).
“Think of social media as another networking tool. Your social media presence doesn’t have to be finance-related. Consider other ways you can network by being involved in your local community. For example, one advisor who previously worked in the tech sector now reviews the latest tech products on Twitter. She has 5,000 followers. Look for ways to leverage what you know,” recommends the report.
Social media for financial information
The survey found that LinkedIn and Google+ are the foremost platforms through which respondents are likely to seek financial information. “Maintain a general awareness of how some of your clients continually learn about investing, stay abreast of market updates, and discuss finances and investing,” recommends the report.
