ETF Trends, one of the leading sources for news on current market trends and education in the growing Exchange Traded Fund (ETF) market, has just released a white paper; “Social Media’s Impact on Wall Street”. Tom Lydon, publisher of ETF Trends, and a team of students from the University of Southern California Marshall School of Business have provided the latest assessment of how social media is affecting investors, financial advisors and the financial services industry.
Key findings include:
- Over 1.2 billion people have embraced social media
- Investors are turning away from conventional sources of investment news, research and guidance in favor of new, timely social media sources
- The number of financial advisors who are incorporating social media into their marketing and relationship building efforts is increasing dramatically
- Regulators are vague on what the “do’s and don’ts” are but are not impeding the growth of social media efforts in the financial community
- The largest Wall Street firms are diligently working to create their own “communities” in hopes of making relationships more sticky.
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