Twitter users “follow’’ celebrities, athletes and their favorite TV shows, enjoying the tweets sent out by those people or entities for entertainment purposes.
But some Twitter users want to use Twitter for more investment-oriented purposes, like keeping contact with their financial advisors.
A Spectrem Group study of wealthy investors determined that 32 percent of Millionaire investors who use Twitter would follow a trusted advisor’s tweets, if the advisor was using Twitter to communicate with investors.
Among UHNW investors with a net worth between $5 million and $25 million not including primary residence, 9 percent perceive Twitter to be a professional social media platform, meaning they have found business-related uses for tweets.
Although there are less investors using Twitter than those using Facebook or LinkedIn, Twitter users are on the platform more often. Among UHNW investors, 47 percent of Twitter users check the site at least once a day, while 50 percent of Facebook users are on at least once a day and only 17 percent of LinkedIn users check in at least once every 24 hours.
For more insight on wealthy investors and their social media needs, read the rest of the report here.