87% of Mass Affluents (current investors with $100,000 – $1 million in assets, excluding the value of their homes) have used social media in the past year, with about three-quarters using Facebook, half using LinkedIn, and roughly one-quarter on Twitter, per results from a study conducted by LinkedIn in partnership with Cogent Research. Almost 40% of Mass Affluents report using social media for discovery (21%) or consideration (32%) of financial companies: interestingly, they’re more likely to learn about financial information through an ad or brand content than through an individual.
Asked the specific source of the financial information they learned via social media, 60% of those who had learned about a financial company said it was through an ad, easily the most common response. 38% said that company sponsored content and updates was their source of information, slightly ahead of the proportion citing a member of their social network (34%) or an industry expert or executive (30%). Read the rest at MarketingCharts.