As investors from Gen X and Gen Y continue to make up a growing portion of the affluent population, more of them are turning to social media for their personal finance and investing needs.
According to a new Cogent Research report, Social Media's Impact on Personal Finance and Investing, three-quarters of affluent investors in the U.S. are now regularly using some form of social media. Regular use is defined as more than once a month.
The rise in social media adoption among the affluent is expected to continue as investors from Gen X and Gen Y make up a growing portion of the affluent population, the report noted.
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