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Impact of Covid-19 on customer engagement for wealth managers

July 26, 2021 By InvestmentPal Leave a Comment

Covid-19 has changed how we work and how we communicate with our friends, colleagues and clients.  How has customer engagement in the wealth management industry changed during this pandemic?  This blog highlights 5 statistics to show why and how wealth managers have increased digital adoption and accelerated use of social media to engage with clients during this time.

 

1. The relative frequency of consumers looking for “financial advisor” using search engines increased 20% in 2020

financial advisor search google trend

Source: Google Trends

 

2. Wealth manager’s digital engagement with clients increased 7-10X across all digital channels in Q1 2020

wealth manager increase digital engagement

Source: Morgan Stanley, Oliver Wyman, “After the Storm”, 2020

 

3. 33% of wealth managers increased their spend on digital tools after the onset of Covid-19

Source: Arizent Research, May 2020

 

4. Financial advisors’ social media business use increased to 85% on Linkedin, 65% on Facebook and 57% on Twitter in 2020

Source: Putnam Investments Pulse Survey, June 2020

 

5. Almost 50% of investors say social media impacts whom they hire as a financial professional

Source: Hartford Funds Survey, FA-Mag.com June 2021

 

 

By InvestmentPal

 

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Filed Under: financial social media marketing, How to, Metrics, other, perspective, Recent, ROI

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