NU Online News Service, July 16, 3:04 p.m. – Many high-income investors say they are using the Internet to research and track investments, but only a small percentage are using it to communicate with their financial advisors, according to results of a new survey by Matthew Greenwald & Associates, Washington.

When the polling firm interviewed 500 high-income professionals, executives and business owners earlier this year for Nationwide Financial Services Inc., Columbus, Ohio, it found that 45% said they were using the Internet to plan their finances, and 32% said they were using Internet-based planning tools and resources “a lot.”

Participants told researchers they relied more on the Internet for financial information than they did on friends, relatives, magazines, newspapers, according to the Matthew Greenwald survey.

But only 24% of the high-income investors who use the Internet for financial planning have used the Internet to communicate with financial advisors, up from 20% in 2001, Matthew Greenwald reports.

Although slightly more survey participants are using the Internet to study specific investments, open investment accounts and estimate financial needs and buy insurance this year than in 2001, the percentage using the Internet to track investment portfolios, do general financial research and make stock trades has flattened out, Matthew Greenwald reports.