The Dawn of a New Era
It is clear that the use of social media by asset management firms is still in its infancy. It is equally clear that certain of the underlying dynamics of social media and its usage are arguably driving fundamental changes in how the industry will interact with their stakeholders in the future. Even today, we see the importance many users of financial products attach to various forms of social media; tomorrow will spell the emergence of the internet-savvy generation as the primary source of new capital making the media strategy of asset managers core to their ultimate success. While it may not come as a surprise that this trend is being led by the US houses, the apparent leadership in this space by the pure play asset management groups is notable and something the affiliated asset managers would do well to take note of.
There remainmany challenges andquestions for industryplayers as this area evolves, but the growing future importance of social media to the asset management sphere is unquestionable. This is especially so when we look at the emergence of the new business models which have the potential to completely transform how the industry operates today. In the brave newworld that is the social era, it is imperative to remain close to change and to be open to the new concepts that emerge as the technology and its usage mature - as the competition for investing capital intensifies, now is the time for asset management groups to lead in this space rather than follow.
Made with FlippingBook - professional solution for displaying marketing and sales documents online