The assets that millionaires control and the influence their actions have on the economic environment are critical to actions of financial providers and advisors. And today those same millionaires are quickly embracing new communication technology into their daily lives, according to report to be released this month by Chicago-based research firm Spectrem Group.
According to Spectrem's study, millionaire client usage of smart phones and tablets continues to rise, with no evidence that the trend will be abating anytime soon. In addition to mobile technology, social media is becoming a part of the lifestyle of many millionaires. Usage and familiarity with Facebook and LinkedIn are increasing among almost every demographic. While social media usage is higher among younger millionaire households, older millionaire households are quickly embracing the technology as well, according to the study.
Other highlights from this year's Spectrum study include: 60 percent of millionaires occasionally share information with others through Facebook; 52 percent of millionaires want the ability to look at balances in one place from multiple providers; and 31 percent of millionaires have used their tablet computer for face-to-face video chat.