African-American Investors Are More Likely to Communicate with their Financial Advisors through Texting

African-American Investors Are More Likely to Communicate with their Financial Advisors through Texting

African-American affluent investors have a passionate interest in social media, and use it for a variety of purposes, including keeping an eye on financial matters. 

The second report in Spectrem’s Ethnic Segmentation Series tells the story of how affluent investors from three different ethnic groups – African-American, Asian and Hispanic – use social media and mobile technology in their lives. According to Using Social Media and Mobile Technology in Financial Decisions, African-Americans are far more involved in social media than the general population of affluent investors.

Sixty-six percent of African-American affluent investors are on Facebook, and 50 percent have LinkedIn accounts. Both of those numbers are higher than any other ethnic group and higher than the general population of affluent investors. They also report a 41 percent involvement in YouTube, again higher than any other segment studied.

It’s one thing to have a social media account and it is another to be engaged. Thirty-six percent of African-Americans who are on Facebook check their account at least twice a day and 10 percent say they are on the page at least five times a day, the highest rate of constant involvement among affluent investors.

Thirty-eight percent of African-American investors say they observe, share, comment and communicate on Facebook. Compare that to 21 percent of Hispanics, 16 percent of Asians and 20 percent of the general population of investors.

Click here to read more

Source: Millionaire Corner | KENT MCDILL

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s