Close
ThinkAdvisor

Financial Planning > Trusts and Estates

The Wired Wealthy

X
Your article was successfully shared with the contacts you provided.

When it comes to the wealthy, the higher up you are on the asset scale, the more likely that you’ll be using a mobile device of some kind to stay on top of your financial affairs.

Preliminary results from U.S. Trusts’ annual Survey of Wealthy Americans found that while 32% of respondents (all of whom had more than $1 million of liquid assets) reported they used some kind of mobile device to view their financial information, for those with more than $10 million in investable assets, 52% said they viewed such information.

Perhaps not surprisingly, the younger cohorts in the survey used a PDA or cellular phone to check their finances more frequently–48% under the age of 45; 36% for those 45-54; 29% for those 55-64, and only 19% for those 65 and older. Gender matters in this case, too: on the overall sample, 36% of men reported using mobile devices, and only 28% of women.

There was one other finding of particular interest among the 1,667 individuals who completed the online survey in November 2008: Forty percent of respondents said they used the Internet to communicate with their advisors, and 20% used them to view Webcasts or listen to podcasts from financial services firms.