If you’re looking for an investor, don’t try to friend one on Facebook. A new survey reveals that 73 percent of investors use LinkedIn to research financial decisions — more than Facebook, Google+, and Twitter combined.
LinkedIn and Cogent Research put together this chart based on an online survey of 608 affluent people in the U.S. and Canada. They asked investors with least $100,000 in investable assets which social media sites they were using and why.
In the chart, the researchers break it down further by comparing the simply mass affluent with the Ultra Affluent, who have $5 million or more in investable assets.
While the rest of us are off printing coupons from the Red Lobster Facebook page, our more successful friends are researching their next investment on LinkedIn.
The chart shows how investors turn to LinkedIn and topic-specific discussion boards to make decisions rather than reading the headlines on Facebook and Twitter.
In fact, the Ultra Affluent are 157 percent more likely to trust an article shared on the professional networking site, and 37 percent more likely to trust information from their own connections.
LinkedIn members are also more likely to have IRAs or 401Ks, and to invest in mutual funds. They don’t have to go on Pinterest to dream big — their apartments probably already have dishwashers in them. Click on the image for more statistics.