Top 5 Social Media Leaders Include Vanguard, Fidelity

Asset managers that don't take advantage of the benefits social media has to offer "lack a critical tool to connect with their most loyal and vocal customers, build advocacy for their brands, and drive business results," according to a report from kasina, a consulting firm that focuses on asset managers and the insurance industry.

The company rated 45 asset managers on Facebook, Twitter, LinkedIn, YouTube and blogs, and scored them on availability and quality of features and user experience. Kasina also identified four characteristics that define the top five firms:

• Two-way communication
• Dynamic content
• Coverage of a variety of topics
• Multiple sites

The report found that over half of firms have a branded page on a social site and 39% have a blog.