As social media enters the mainstream as a tool for disseminating and gathering business information, a growing number of consumers are turning to Twitter, Facebook, LinkedIn and other portals for information about financial and insurance services.

And not just here in the U.S. As we reported in this space in September of last year, nearly half (48%) of the 6,000 insurance customers from 11 countries participating in an Accenture 2013 Consumer-Driven Innovation Survey said they would consider comments on social media in making their insurance-buying decisions. And more than half of the respondents (55%) said they would use one or more insurance services offered through social media.

These numbers are not lost on insurance and financial service professionals, many of whom are also turning to social media to promote their practices to prospective clients. For evidence of this, look no further than a new Cogent Reports study from Market Strategies.

The research firm finds that 3 in 4 financial advisors now use social media for business-related purposes. The top platform: LinkedIn.

The professional networking site is the primary platform for nearly 6 in 10 (59% of) financial advisors. The adoption rate easily outdistances that of the runner-up, Facebook, which just 12% of advisors identify as their primary social media platform for business and financial information.

See the infographic on the next page recapping other highlights from the report.

Source: Cogent Reports at Market Strategies.

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Stats on 4 social media platforms financial & insurance advisors are adopting

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