Only 49% of the 200 largest U.S. institutional asset managers are active on popular social media platforms such as LinkedIn, Twitter and Facebook.
These are the findings of a new study by financial services marketing and public relations consulting firm BackBay Communications.
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The polled asset managers vary widely in their social media usage. The firms with the most assets under management tend to be more active. About 74% of the 50 largest money managers are active users, compared with about 56% of the next largest quartile of the top 200 managers.
Only 44% of the firms in the third quartile are active on social media, compared with 22% of the firms in the fourth quartile.
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LinkedIn and Twitter are the most widely used platforms. About 38% of the 200 largest firms are active on LinkedIn and roughly 38% are active on Twitter. Less than a quarter are active on Facebook.
Money managers use LinkedIn to provide a company overview or as an alternative outlet for job announcements. But a growing minority of asset managers have begun using LinkedIn to share original content.
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Twitter is largely being used for sharing company news.