Although 68% of asset managers have a social media strategy, that number should be far higher to meet consumer and financial intermediary interest, according to a report from kasina.
Only 34% have a budget dedicated to social media and 46% have firm management commitment to execute the strategy.
"Social media has fundamentally changed how buyers interact with brands," Lee Kowarski, a principal at kasina, said in a March 28 press release.
"Millions of users, including many financial intermediaries, spend hours each day recommending, following, sharing and connecting on social platforms such as Facebook and Twitter.
"Firms that are not engaged in social media today are not connecting with their most loyal and potentially profitable customers where they are," Kowarski said.
