Financial advisors spend more than 23 hours per week online at industry, social and asset manager Web sites, according to a new report.
Of the advisors questioned, 71% say the quality of asset manager sites that they visit affects their product decisions, says the study released today by kasina, a strategic management consulting firm.
Kasina and Horsesmouth, an online advisor community, surveyed 536 financial adivsors about their online behavior.
Key findings include:
- Advisors' intranets are still the most commonly accessed sites, with 94% of advisors visiting them
- 85% visit asset manager sites as least occasionally
- Wholesaler discussion of firm Web sites impacts advisor usage of those sites
- More high AUM advisors seek news and commentary on advisor sites
- Social media use continues to increase among advisors
- A majority of advisors uses mobile devices to access work content
- Most advisors feel they get too much e-mail from asset managers
- More than two-thirds of advisors share content with clients
"More than ever, advisors are busy, and prefer to access and receive information online," says Lee Kowarski, a Kasina principal. "Firms have a huge opportunity to take advantage of these trends by being smart about their online capabilities and getting their content to advisors where they want it, when they want it and how they want it."