Vanguard Group Inc., BlackRock Inc.'s iShares ETF business, Putnam Investments, Franklin Templeton Investments and Sun Life Financial ranked highest in using social media for interacting with their institutional and retail clients, according to a kasina LLC report.
The managers rated highly on three aspects of social media use, said Jenny Chu, New York-based senior research analyst at kasina and author of the report. The three are the level of specific content offered for clients; differentiated content, or postings that share other social media content through ways like retweeting and reporting; and interactive capabilities for which social media is used as a tool for direct client service.
Among specific highlights, Vanguard promoted user-generated content on social media, while iShares offered postings from portfolio managers “to allow more personal access for clients to the people who are managing their money,” Ms. Chu said. “Firms are slowly opening up their (social media) forums for interaction.”
Fifty-seven money managers and insurance firms' social media efforts were assessed by kasina across five major social platforms — Facebook, Twitter, LinkedIn, YouTube and blogs.