The financial services industry is embracing online technology as advisors look for ways to better serve investors, according to a Mackenzie Investments survey conducted by Environics.
The survey shows advisors are engaged online and spend a significant amount of their time on the internet reviewing industry websites, publications and investment firm websites. The vast majority of advisors (90%) indicate that login areas where they can access advisor-specific content are useful and the same percentage also value current and relevant information that they can share with clients.
Not only do advisors want personalized content, but 80% also expect direct access to their sales team through an investment company’s website.
A wide majority of advisors (88%) currently use at least one internet-connected mobile device such as a smartphone or tablet and almost a third (29%) use a mobile device, such as a tablet, in client meetings. For advisors who do not currently use a mobile device in client meetings, 51% expect to start using one in the next year.
The use of social media in advisors’ practices is becoming increasingly important with 58% using social media for business and more than two thirds (67%) saying they expect their social media use to increase.
Other key findings:
Advisors are most likely to share:
- Personal financial planning content (76%)
- Fund or product profiles (75%)
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- Breaking news insights (63%)
- Commentaries by portfolio managers (57%)
When it comes to industry websites:
- 78% of advisors rate shareable content as a top priority
- 66% of advisors want sites that can be fully accessible through mobile phones or tablets
Mobile device use:
- 36% use them to read email
- 31% use them to read news
- 19% listen to podcasts
- 17% watch video
- 16% connect with clients through social media
LinkedIn is the preferred social platform among financial advisors:
- 68% of advisors have a profile
- 59% have client connections
- 55% use it in their practice
Over the next two to three years, advisors expect to increase their use of social media:
- 60% will use it to build their brands or profiles
- 56% will share investment-related topics with clients
- 52% will use social media when prospecting for new clients