Thu, Aug 28, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

One in three "Generation Y" users utilizes social networking sites for managing investments

Monday, June 06, 2011
Opalesque Industry Update - The popularity of social networking sites is changing the way people invest their money with the new networking trend altering the investment playing field.

According to a report by Northwestern.edu social networking sites like Betterment.com, an alternative investing site that pools investment data of users, allows “unsophisticated” investors access to credible information on various portfolios.

Camille Varlet, a 32-year-old marketing manager at L’Oreal in Chicago told Nortwestern.edu that she finds the Web site convenient because of its accessibility and user-friendly features.

Chief Executive Officer Jon Stein said their Web site provides social data that users can share among themselves and at the same time track what other people are doing.

Varlet was quoted as saying “It’s not like you have chat rooms. But I can see what my peers are doing. They are aggregated and [the information] comes from a credible source, so I can still track and see what they’re doing.”

Indeed the Internet is changing the way people invest and social networking sites are now able to penetrate markets that are off-limits in the past. It is also changing the investment landscape, particularly how the public manages their portfolio. But the biggest benefit of these social networking sites to the public is that it gives them some degree of control over their portfolios.

An independent survey by TD Ameritrade Holding Corp., revealed a similar finding when it found that one in three “Generation Y” users has utilized social networking sites for managing their investments. Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  3. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  4. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius