Asset Managers Don't Accept Your Friend Requests
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an InvestmentWires' Publication
Wednesday, February 3, 2010

Asset Managers Don't Accept Your Friend Requests

Are money managers evolving alongside technology and mainstream communication methods? A new study from consulting firm kasina has found that while 84 percent of asset management firms believe social media is "here to stay and will have a lasting impact on financial services," less than half of those firms engage in any form of social media communication.

kasina polled 64 executives from 48 asset management companies and created The Asset Manager’s Guide to Social Media. 39 percent of firms noted they were on LinkedIn, while 20 to 25 percent utilized Facebook, Twitter or YouTube. Many executives noted that they were taking slow, cautious steps toward social media outlets, or said that they feel that company compliance issues get in the way.

“In an industry like asset management, where trust is vital, customers are seeking sounding boards, forums, friends, and experts online to validate, challenge, or question," stated Lee Kowarski, kasina principal. "Asset managers who can progressively take advantage of this movement instead of fight it will have a competitive leg up when it comes to customer loyalty and, ultimately, cash flows.”

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