A few weeks back the SEC (The Securities and Exchange Commission) ruled that public companies were now free to release their important information though social media channels. Since this ruling there has been a debate in the investment community as to what this means for the future of the industry. Some welcome the use of social media while others are continuing to lobby that the way things were worked just fine.
Because of this debate, we took to the street, Wall Street, to ask the people that this ruling will affect what they thought. We surveyed stock brokers, financial and market analysts, financial advisors, individual traders and fund managers, and made their results into the infographic below.
What we learned by doing this was that Wall Street, and investor relations in general, is changing. As the younger generation that embraces technology is coming into power in the workplace, we found that they are also the new workforce that embraces social media. And for more than just keeping in touch with friends.
We found that the investment crowd under 40 support the SEC’s decision to allow the distribution of information through social media. In fact, 60% of those surveyed and were under 40 said that they regularly consult social channels to research investments. But it’s not just the under 40 crowd. 40% of all survey respondents said that they were using social media to find information.
We also found that 49% of our responders companies blocked social media from the workplace, making it hard for them to use it as a source while at work. However, 48% of those people said that they had witnessed colleagues using personal devices, like a smartphone or tablet, to consult social media for investment information anyways.
It appears that the younger generation of investors is rewriting how business is done, and social seems to be part of it.
What do you think?