Asset managers will be wise to adopt social media into their repertoire if they havent done so already, according to a new survey from American Century Investments.
The survey found that 34% of advisors believe that social media is a "wise use" of asset managers' time and resources and just over half (53%) feel that asset management firms are "smart to explore" social media. One out of three believe asset management firms are "not yet seeing the value" of social media.
LinkedIn groups remained the "most important" social media offering an asset manager can provide, according to 19% of respondents, followed closely by "providing an advisor community" for 18%, and a blog for slightly fewer (13%) respondents.
In terms of content they want to receive from asset managers via social media, commentary and market insight again ranked number one with 59% of advisors who are social media users. Second-most important to advisors was market news (58%), followed by educational content to share with clients at 58%, a reversal from 2012, when educational content to share with clients was a higher priority than receiving market news via social media.
American Century Investments' fourth annual Financial Professionals Social Media Adoption Study was drawn from an online survey of 301 financial professionals who are employed as financial advisors, brokers or registered investment advisors. Meridian Marketing handled data collection and data weighting functions. Study participants averaged 15 years in the financial industry; roughly two-thirds were male, and the average age was 47.