Would your wealthy clients "friend" you on Facebook?

Evidence suggests wealthy people are incorporating social media in their financial decisions. Nearly 70% of wealthy investors have reallocated investments, or began or altered relationships with investment providers based on content found through social media, according to a survey conducted by Cogent Research of 4,000 investors with more than $100,000 in investable assets. Financial advisors are becoming more active on Twitter, Facebook, and LinkedIn as well: 48% interact daily with clients through social media, according to an Accenture survey of 400 U.S. financial advisors.

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