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Asset Management

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Financial Advisors Spend 23 Hours A Week Online, Mobile Use Increasing

A survey by kasina of 536 financial advisors revealed that intranets are still the most commonly accessed sites, while social media use continues to increase and more than two-thirds share content with clients.

In a survey that will likely make developers of iPad and other mobile device financial applications happy, strategic management consulting firm kasina found that the use of mobile devices to access online information is growing fast among financial advisors.

Kasina, who surveyed 536 financial advisors regarding their online behavior, found that advisors now spend over twenty-three hours per week online at industry, social and asset manager sites.

The report, carried out in partnership with Horsesmouth online advisor community and resource center, found that a majority of advisors uses mobile devices to access work content.

Advisors' intranets are still the most commonly accessed sites, with 94% of advisors visiting them. Social media use continues to increase among advisors, and more than two-thirds of advisors said they share content with clients.

The report revealed that 85% visit asset manager sites as least occasionally, although more high AUM advisors said they are looking for more news and commentary on advisor sites.

Overall, 71% said the quality of the asset manager sites that they visit affects their product decisions.

Notably, most advisors feel they get too much e-mail from asset managers, according to the study.

"Asset management firms have three broad opportunities to make more inroads with advisors online," says Lee Kowarski, Principal at kasina and sponsor of the study. "They should continue to focus on getting their brand and their message to advisors where advisors spend time online - on firm intranets, mobile devices, and social media. Furthermore, they should aim to make more of their content shareable and to rationalize their e-mail strategies."

Kowarski added: "More than ever, advisors are busy, and prefer to access and receive information online. Firms have a huge opportunity to take advantage of these trends by being smart about their online capabilities and getting their content to advisors where they want it, when they want it, and how they want it."

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

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