Report: Digital Media the Key to Reaching the Rich

A study out this week from SEI, Scorpio Partnership and Standard Chartered Private Bank says the wealthy are much more likely to use the Internet, mobile apps and other digital media communications tools.

The study, titled The Futurewealth Report: The Digital World of the Futurewealthy, surveyed 3,477 respondents with an average $1.9 million in assets on their digital habits and found that a majority are early adapters of technology, crediting technology for a valuable role in helping them create and manage their wealth.

The report’s author notes that, “Advisors must embrace and share the passion for technology and digital media tools with these futurewealthy if they want to truly engage and grow relationships with them.”

While the wealthy may be first on board with new technologies, others are not far behind. And attorneys who do not utilize digital communications in their law firm marketing are fast going the way of the dinosaur.