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Featured Advisor

Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Affluent Investors, Social Media and Advisor Usage

Less than 2 percent of Affluent investors communicate with their financial advisor on Facebook, LinkedIn or Twitter. 

| BY Donald Liebenson

Maybe not today, maybe not tomorrow, but soon, and for the rest of their life. That’s not how Ilsa from “Casablanca” will feel if she doesn’t get on the plane with Victor Laszlo, but how affluent investors feel about considering social media as a factor in choosing a financial advisor. according to a new Spectrem Group study, Using Social Media & Mobile Technology in Financial Decisions.

At present, 10 percent of non-Millionaire households with a net worth of at least $100,000 would look closely at how much a financial advisor or provider uses social media to communicate with clients. A mere five percent state they would be more inclined to use a financial product or service they have seen advertised or discussed on Facebook, LinkedIn or on some other social media platform.

Eight percent would be interested in their financial service firm providing information via social media through apps they could use on a tablet or smartphone. Not surprisingly, age is a significant factor in the importance placed on social media in advisor consideration and usage. Of the 8 percent of affluent investors overall who would be interested in information communicated to customers via social media apps on mobile devices, 23 percent were Millennials ages 35 and under, while 18 percent were ages 36-44.

The highest percentage (15 percent) who would choose a new financial advisor or provider based in part on how much they use social media to communicate are ages 36-44. All of this is clearly less of a factor in advisor or financial product usage among seniors age 65 and over. Less than six percent would take any of this into consideration.

Affluent investors overall do not consider social media an effective way to communicate with their advisors. Less than 2 percent do so on Facebook, LinkedIn or Twitter. Only 3 percent report that they follow their advisor on Facebook. Just slightly more (5 percent) follow their advisor on LinkedIn. Again, Millennial aged investors are most likely to do so than their older counterparts.

When it comes to gathering financial information, reading an article (52 percent) or talking to someone in person (29 percent) are the preferred avenues.   

About the Author

Donald Liebenson


Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.