David Keen

About David Keen

Dave is a Senior Director in the Financial Services Research Division. With over 20 years of supplier side experience, Dave’s specialties include assisting clients with customer satisfaction & loyalty issues, brand equity assessment, marketing communications testing, new product/service development, and market segmentation. Dave has serviced a wide range of client types, including those in the wealth management space, across both qualitative and quantitative engagements. He also brings broad-based expertise in survey methods, study design, and advanced analytics. Dave holds an M.A. in Sociology from the University of Michigan, a B.A. in Marketing from Michigan State University, and held internships at the Institute for Social Research and the Gallup Organization.

No Longer Optional: Using Social Media to Reach Ready-to-act Investors

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While social media use is the norm among affluent investors overall, recent findings reveal that ready-to-act (RTA) investors—those who plan to make a new investment in the next three months—are using social media at even higher levels. RTA investors report using at least 2.4 social media sites each month on average compared with an average of only 1.8 social sites for affluent investors who do not plan to make an investment decision in the near-term. More specifically, compared with all affluent investors, RTA investors over-index on visits to Facebook, YouTube, LinkedIn and Twitter. A social media presence is no longer optional but is quickly becoming a mandatory component of a distributor’s or product provider’s successful marketing plan and media buying strategy.

Looking at the four major social media platforms in more detail reveals two distinct use tiers:

  • Tier 1, Facebook and YouTube: Used by a majority of affluent investors, with each becoming a nearly ubiquitous presence across the RTA segments.
  • Tier 2, LinkedIn and Twitter: Draw dramatically higher use among RTA investors compared with the broader audience of all affluent investors. This highlights the potential value offered by these platforms in targeting an audience that is ready to make an investment decision

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Leverage TV to Reach National Advisors

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Everyone in finance watches TV all day, whether the TV is on silently in the background or front and center in the middle of breaking news. Consequently, the battle between networks for Wall Street’s attention is fierce. And with the continuing decline in the ranks of financial advisors working in the United States (down 4% from 2015), reaching every extra pair of eyeballs matters in marketing to this high-in-demand, low-in-supply audience.

While the National channel is contracting at the same rate as the overall advisor population, the National wirehouse channel remains the second largest based on number of advisors, with National advisors maintaining substantially larger books of business than their peers in other channels (based on median AUM). Firms that can more efficiently reach advisors in this high-value channel will have a leg up on their competitors in building business throughout the purchase funnel. The Advisor Media Buying Guide™, a new report released last month, found that advisors in the National channel exhibit the greatest variety of TV viewership and that there are specific networks that will reach these advisors at well above-average levels. Continue reading

Affluent Ready-to-Act Investors Are Prime Media Targets

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Ready-to-Act Investors

Only a minority of affluent investors are likely to make an additional investment in the near future, so it is imperative for asset managers and their agencies to equip themselves with the insights required to optimally target this critical audience. Based on purchase intent, we’ve identified three segments of “ready-to-act” (RTA) investors who are likely to open an investment account or invest in a mutual fund or ETF in the next three months.

The good news is that these RTA investors are prime media targets, according to data from our Media Consumption™ Investor portal. These RTA investors are more likely to use a variety of media outlets for business and financial news versus affluent investors overall.


RTA investors visit more websites each month than their non-ready-to-act counterparts. Those looking to invest in an ETF visit the CNN, CNN Money and Fox News websites, making those great options for advertisers targeting this segment. Outreach to investors looking to open an investment account should include the CNN, Bloomberg, Fox News and MSNBC sites, while asset managers seeking new mutual fund investors should target CNN, Yahoo! Finance and Fox News. Continue reading

LinkedIn Is Key to a Successful Social Media Strategy

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LinkedIn Key to Successful Social Media Strategy

Advisors and Affluent Investors Look to LinkedIn

Thirteen years after LinkedIn launched, twelve years after Facebook made its first friends and ten years after Twitter went live, social media is no longer viewed simply as an easy means of reaching and courting affluent investors and tech-savvy producers. Increasingly, asset managers and product providers are realizing they need to do more than merely set up a virtual storefront. That is, they need to develop a social media strategy, analyze connections and figure out how to work their followers effectively to stay top-of-mind. Recent findings from Cogent Reports™ highlight the critical role that LinkedIn plays for both financial advisors and affluent investors.


Among advisors, YouTube, LinkedIn and Facebook are the top three social media platforms most commonly used across all channels. That said, when we asked advisors to identify their primary platform for business and financial news and information, LinkedIn claims a commanding advantage at 60%, far above Twitter (16%) and Facebook (13%), with YouTube barely registering (4%). So for advisors, it is the quality of information they find on LinkedIn that differentiates this platform, not the quantity. Continue reading