Study: How "social" are the Mass Affluent?

Can financial advisors reach affluent individuals via social media? A recent Cogent Research survey suggests you can. The survey, which explored engagement among high-net-worth individuals, found that 63% of respondents use social media to stay up to date on financial trends and to gather information to make a financial decision.

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Source: LinkedIn, Cogent Research, March 2013.

Methodology: A 15-minute online survey was conducted among 502 U.S. individuals with between $100,000 and $1 million in investable assets. This includes cash, savings, mutual funds, stocks, bonds, retirement accounts, and all other types of investments and real estate ventures, but excludes primary residence and vacation homes. Readable base sizes were targeted for key financial organization types — banks, credit card companies, and brokerages. Individuals did not have to be social media users to participate. Thus, results are meant to represent the greater Mass Affluent population.