Financial advisors turn first to financial news website and apps more than a third of the time when speed is important to understand what is happening in markets, according to a Bloomberg Media study.
Market volatility and geopolitical events are the biggest triggers for increased media consumption, the study found.
Television remains a “complementary real-time source,” with financial advisors turning to that medium 11 percent of the time.
“Advisors are operating in an environment where speed, complexity and scrutiny are all increasing at once,” said Michelle Lynn, global head of data science and insight at Bloomberg Media, in a statement.
Bloomberg Media’s Industry Accelerator surveyed 500 financial advisors from the U.S. and Canada through a 15-minute online survey in partnership with Logica Research.
Social media remains a secondary channel for financial news, used by just 26 percent of advisors. Among those who do engage, social media serve distinct roles: video for learning, real-time feeds for scanning headlines, and community forums for peer comparison.
Millennial advisors — born between 1981 and 1996 — are significantly more likely than their older counterparts to engage with a wide range of formats, including newsletters (40 percent), podcasts (43 percent), social media (35 percent), and streaming video (28 percent).
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