Mutual Funds Ramp Up Focus On Social Media

Asset managers ramped up their marketing and compliance staff dedicated to social media efforts by more than 60% from 2011 to 2012, according to new research from Boston-based Cerulli Associates.

“There was a 62% increase in marketing personnel dedicated to social media efforts within asset management firms, and a 76% increase in compliance personnel between 2011 and 2012," according to Pamela DeBolt, senior analyst at Cerulli Associates.

“Over half of asset managers report they currently employ someone to lead social media and digital strategy efforts,” stated DeBolt. “We find that social media leadership either resides with the chief marketing officer, a designated marketing manager, or a digital and social media strategist.”