The number of investors who are using social media for a host of applications, among them personal finance and investing, has increased markedly in recent years, according to new research.
Market Strategies International discloses this finding in “Investor Touchpoints,” a Cogent Wealth Reports study on best practices for building an optimal investor communications strategy. The Web-based survey polled 4,000 U.S. adults with investable assets of $100,000 or more.
The report reveals that in December 2012 34 percent of investors used social media for personal finance and investing (PF&I) purposes. This compares with 30 percent in 2008.
The proportion of investors who turn to social media for non-PF&I applications increased markedly over the four-year period: 41 percent in 2012 versus 22 percent in 2008.
According to the report, usage of social media by gender, affluence level, generation and advisor break down as follows: