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Study shows big jump in tablet use by financial advisers

by David Needle

April 17 2012

More financial advisors are using mobile devices like tablets and social media to connect with clients.
More financial advisors are using mobile devices like tablets and social media to connect with clients.

Twice as many financial professionals used mobile devices, such as iPads and other tablets, compared to a year ago, according to results in American Century Investments’ third annual Financial Professionals Social Media Adoption Study.

Roughly 35% of the financial professionals participating in the study indicated they utilized smartphones to access social media for business and personal use, versus 27% in last year’s study. But 22% used mobile devices such as iPads and other tablets, twice the percentage of last year when only 11% said they did. 

The study also found that six out of 10 advisors are using social media for business at least several times a week, with 27% accessing on a daily basis. 

“Given the rapid growth trends in both smartphone and tablet device ownership, it’s no surprise that social media access is growing through these devices, especially with apps that make it convenient to do so anywhere and anytime,” said Jennifer Sussman, Director of Digital Engagement for American Century Investments

Almost nine out of 10 financial professionals surveyed have a business or personal social profile or account.

“Reading expert commentary and insights” continued to be the leading planned use of social media this year, seeing a significant jump to 22% from 13% last year. “Sharing news and content relevant to my clients” was the second-most popular planned use, followed by “researching people, for example, prospects, contacts and current clients.”

Sussman said American Century Investments is exploring ways to continue to make more of its content mobile-friendly. 

“With the proliferation of mobile devices, it will be interesting to see if convenience will drive even higher frequency of access,” she said.  

The results of American Century Investments’ Financial Professionals Social Media Adoption Study were drawn from an online survey of 300 financial professionals who are employed as financial advisors, brokers or registered investment advisors.

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