A new report finds that social media usage by the asset management industry as a whole is still in its infancy and that certain underlying dynamics of social media are driving changes in how groups will interact with their stakeholders.
The joint report by PwC Luxembourg and CACEIS—titled “#SocialMediaStudies – Asset Management in the Social Era”—finds that the social media strategy of asset management firms will become core to their ultimate success.
This report, which analyzes more than 100 asset management companies worldwide, identifies the current state of asset management with regard to social media usage while considering how companies can interact with end-investors and implement a social media strategy while responding to inevitable changes that will affect their industry.
The analysis and scoring revealed that a large part of the industry is still in a “wait and see” position. Only 60% of those analyzed are active in social media, perhaps because of uncertainty due to the absence of stringent regulations. Larger asset management companies are more likely to use social media; only 46% of promoters managing less than €150 billion have an active account dedicated to asset management, compared to 77% for those managing more than €500 billion.
“Full utilization of social media can unleash a higher degree of organizational effectiveness, a much broader reach in the marketplace, and a deeper understanding of manager-client relationships,” concludes Dariush Yazdani, partner, Market Research Institute PwC.
Social Media Usage in Infancy Among Asset Managers, Says CACEIS
A new report finds that social media usage by the asset management industry as a whole is still in its infancy and that certain underlying dynamics of social media are driving changes in how groups will interact with their stakeholders.