You might access our comprehensive survey on what investors want on social media from their advisors. No, it's not photos of the dog eating your lunch!
Seriously, there are some great insights, highlighted in the press release below. You can also access the full report and findings by joining our Fast Focus: Social Media Group to access the Individual Investors Social Media Behavior Report 2014 or view the recorded press event here , featuring Morningstar's Leslie Marshall and Amy McIlwain of Financial Social Media.
HALF OF INVESTORS WANT TO CONNECT WITH FINANCIAL ADVISORS ON SOCIAL MEDIA BUT CANNOT FIND THEM, SURVEY SAYS
Top Leaders Say Social is Where Listening Happens, Content Shared Exponentially
NEW YORK – Nearly half of investors surveyed want to connect with their financial advisors through social media, but cannot find their advisors or conclude they don’t operate through this online channel, according to a survey by Finect , a platform enabling advisors and other financial professionals to use social media safely and compliantly.
The survey also found that those investors who do connect with their advisors through social media are generally satisfied with their interaction.
“Whether it’s fashion or finances, social media is part of the New Tech World Order,” said Jennifer Openshaw, national columnist, author, and president of Finect. “With this survey, investors are sending a loud and clear message to the financial industry: we’re open to talking on social media. We’re likely to listen and engage – if we can find you.”
Openshaw noted that the challenges of adopting social media practices within firms are not unlike those when email emerged, calling for new policies, processes and tools. She added that new tools and platforms are helping companies monitor employees, manage risk, and track content and conversations from a single place while radically reducing their compliance costs.
The survey of 232 U.S. individuals was conducted between October 23 and December 23, 2013.
Among the key findings:
Morningstar’s director of social media, Leslie Marshall, joined in today’s conference call, saying that the old ways of building a financial planning practice is different from the new way.
“The next generation of investor wants an advisor who communicates through social,” she said.
Amy McIlwain of Financial Social Media said that one of the challenges for advisors is developing or accessing content.
“The ‘Old World Advisor’ communicates through a monologue, whereas the New World Advisor uses social media to actually listen and respond,” said McIlwain.
She added that the ability to share content with peers and clients through a single repository finally exists – but advisors are still learning how to use it effectively.
- Finect ( @finectcom ) offers simple, compliant social media for financial advisors, asset managers and others in the financial industry. It provides a unified way to manage employees, share and track content, create groups, and meet compliance regulations for approvals, archiving, reporting and more. @jopenshaw
- Financial Social Media ( @FinSocMedia ) is a full service digital marketing agency providing innovative marketing solutions for financial service companies that increase revenue, decrease operating expenses, and manage risk. @amymcilwain
- Morningstar, Inc. (@MorningstarInc ) is a leading provider of independent investment research and offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. @LeslieAMarshall
Here's a snapshot from the survey report (Total 27 pages) :
Download full report here : (Must join group first)