Chicago, July 16, 2014 – A new study from Spectrem Group and Millionaire Corner (www.millionairecorner.com) shows an increasing client demand for “face-to-face” financial advising through video chat (50 percent), and online client ratings and reviews such as those on Millionaire Corner’s Best Financial Advisors service.
The study, Using Social Media and Mobile Technology in Financial Decisions, surveyed investors in three wealth segments: Mass Affluent, Millionaire, and Ultra-High Net Worth (UHNW). A related Spectrem study from last year showed a growing interest in video content, confirmed in this year’s finding that at least one quarter of investors in all wealth segments now watch videos on financial websites, with UHNW most likely to do so (43 percent).
- Desire for professional rating profiles of advisors has increased – roughly 26 percent of respondents say they are interested in this service.
- Though social media interaction with advisors is not heavily sought after, 13 percent of Mass Affluent, 12 percent of Millionaires, and 11 percent of UHNW would like to be able to text their advisor.
- Most continue to use a computer or laptop for financial activities, rather than mobile technology like smartphones or tablets.
“Research shows increased demand for tech-savvy advising, though preferences vary by age, income, occupation, and advisor-dependency,” says George H. Walper, Jr., president of Spectrem Group. “It’s not all intuitive – older investors show increased social media activity, while younger respondents, many with equally large accounts, are leading the charge for online advisor ratings like those on Millionaire Corner.”
View related content at:
About Spectrem Group
Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
About Spectrem’s MillionaireCorner.com
Millionaire Corner is a premier independent online resource for investors and about investors. Millionaire Corner delivers timely, relevant and practical information and tools to help fuel financial growth for Millionaire investors and aspiring millionaires. With its Best Financial Advisors service, investors are able to search and evaluate financial advisors based on actual customer reviews of satisfaction with the advisor.