Along with the new generation is coming a new wave of wealth and their main form of communication is digital.
This is the conclusion of the second in a series of four reports on the so-called Futurewealthy.
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The name of the report is The Futurewealth Report: Stepping into the Communication Age.
The first in the series dubbed the new generation of wealth owners Futurewealthy and noted how they have woven digital technologies into every aspect of their lives.
This report shows that not only have the Futurewealthy mastered all digital forms of communication, they have put in the time and mastered the skills necessary to make their voices heard and to have impact.
They collectively spend over 30.5 hours a week in some form of communication or dialogue. For those whose wealth is above $4 million, that number climbs to 43 hours.
Those whose net worths are below $500,000 spend only about 25 hours per week. It’s not that traditional forms of communication are disappearing; it’s that the Futurewealthy are adopting new approaches to them.
Overall, the Futurewealthy spend 19 hours of their total communication time on email, web portals, social networking, instant messaging, and VOIP calls.
The wealthiest segment spends 28 hours of their total communication time over those media.
The report indicates how wealth managers and advisors should adapt their communication styles to match the next wave of wealthy clients.
The next report in the series will be on technologies the Futurewealthy expect their advisors to offer and be able to use as well as the types of financial relationships
they will desire.