April 26, 2013 – Would you "friend" your financial advisor on Facebook? Evidence suggests wealthy people are incorporating social media in their financial decisions.
Nearly 70 percent of wealthy investors have reallocated investments, or began or altered relationships with investment providers based on content found through social media, according to a survey conducted by Cogent Research of 4,000 investors with more than $100,000 in investable assets. Financial advisors are becoming more active on Twitter, Facebook, and LinkedIn as well: 48 percent interact daily with clients through social media, according to an Accenture survey of 400 U.S. financial advisors.
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