20 Astonishing Social Media Statistics for Financial Advisors

The last blog we did on social media statistics for financial advisors in March was such a hit that we decided to bring you another round with fresh, new 2013 data.

Have you been wondering if your target demographic is using social media?  Can you reach them?  Do they want to interact with a financial professional on social sites? The answer is YES!  Not only are more boomers, seniors, and affluent consumers using social media, they’re engaged and sharing information.  If you’re not on the social media bandwagon yet, you should be and here’s the evidence to prove it!

Your Target Demographic is Using Social Media

– Two thirds of American adults with an investment account have profiles on Facebook LinkedIn, or Twitter. (Crewnetworkhttp://bit.ly/11PgTiK)

– The 55-64 age bracket is the fastest growing demographic on Twitter. (Business Insider http://read.bi/1aXmSYN)

– More than half of investors over the age of 50 access Facebook regularly. (Millionaire Corner http://bit.ly/15poLYO)

– 75% of Senior Corporate Executives watch videos on business sites every week.  65% go on to visit a vendor’s website after watching a video. (Earnest Agency http://bit.ly/PmMulV)

– 71% of advisors say their target clients are active on LinkedIn.(LinkedIn http://linkd.in/YaTQuf)

– 60% of boomers and 40% of seniors say watching online video on sites like YouTube has become an important part of their day.  75% of boomers and 68% of seniors report taking some sort of action after viewing a video. (Media Post http://bit.ly/1evgLrb)

– 41% of seniors were encouraged by an online video to share a link of the video to someone. (Media Post http://bit.ly/1evgLrb)

 Affluent Consumers are Using Social Media

– 70% of millionaires have profiles on one or more platforms. (Millionaire Corner http://bit.ly/169b7I3)

– The average household income of a LinkedIn user is $109k. (Advisor Websites http://slidesha.re/bOu0Dz)

– The share of millionaires using social networking has doubled since 2010.  55% have Facebook profiles in 2013 compared to 26% in 2010. (Millionaire Corner http://bit.ly/169b7I3)

– More than two-thirds of millionaires 47 and younger use LinkedIn. (Think Advisor http://bit.ly/15tWKOE)

– Of all working professionals, Senior Corporate Executives are the most active Twitter users.  45% check their accounts 2-5 times/day. (Millionaire Corner http://bit.ly/175hSez)

– 98% of affluent social site users ($100,000-$1million) agree that Facebook is for social rather than professional interaction compared to Twitter (84%) and Linkedin (78%). Ultra-high net users ($5million +) are more likely to see LinkedIn as a social, rather than professional site over other income groups. (Think Advisorhttp://bit.ly/15tWKOE)

Social Media Users are Interacting with Financial Institutions

– 90% of affluent consumers ($100,000-$1million not including primary residence) use social media. 44% of these users engage with financial institutions specifically. (ClickZ http://bit.ly/12t9iCP)

– 54% of Ultra High Net Worth ($5million-$25 million not including private residence) investors between the ages of 55-64 use LinkedIn for financial communication and research. (Millionaire Corner http://bit.ly/13Jndtr)

– 45% of Mass Affluence ($100,000-$1million not including primary residence) investors consider Facebook a source for investment and financial needs, while 42% would go first to LinkedIn. (Millionaire Corner http://bit.ly/15poLYO)

– 63% of mass affluent consumers take action after using social media to learn about financial products and services. (Think Advisorhttp://bit.ly/1cgktcx)

– 45% of online US adults who have a Twitter account are interested in interacting with financial services firms via Twitter. (Social Media Governance http://bit.ly/eO5fki)

– Of the US consumers who opened a full-brokerage account last year,40% researched their choices online. (CrewNetworkhttp://bit.ly/11PgTiK)

– In 2012, 62% of advisors on LinkedIn were getting new clients.  (Think Advisor http://bit.ly/19QbpcC)

– Of that group, 32% used LinkedIn to bring in $1 million or more in assets under management. (LinkedIn http://linkd.in/YaTQuf)

– Slightly more than one-third of US online adult Twitter users agree with the statement, “I often recommend financial products and firms that I like to my friends and acquaintances,” compared with 21% of US online adults overall. (Social Media Governancehttp://bit.ly/eO5fki)

The evidence is staggering!  Social media is giving financial advisors access to a pool of affluent, potential customers in your target demographic.  Even more importantly, social sites are creating the context and platforms for financial conversations and information sharing to take place.  I’m not sure what’s more astonishing, the stats or the possibilities. Don’t get left behind, contact Moore Communications Group to get on board!

Tags: 2013 Social Media Stats, Social Media for Financial Advisors, Social Media Stats for Financial Advisors