Successful Financial Advisors, the Mass Affluent, and Social Media

Of timely import for successful financial advisors is the recently released research report, “Influencing the Mass Affluent”, jointly produced by LinkedIn and Cogent Research.

Three highlights within the report jumped out at me:

• 90% of people with investable assets between $100,000 and $1,000,000 are active users of social media.

• 63% of this group (generally known as the Mass Affluent) takes action after using the social media to learn about financial products and services.

• Of the more than 5 million affluent investors who use social media to make financial decsions, 73% use LinkedIn. This is more than Twitter, Facebook and Google+...combined.

The last bullet point seems fairly compelling. Not only are affluent investors becoming comfortable with hanging out on social media, but LinkedIn seems to be a preferred hang-out spot for connecting.

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