In a recent survey, 80% of American advisors said they found new clients through social media.

Putnam Investments released its 2016 Social Advisor Study last week, and it shows that 85% of advisors are actively using social media in their day-to-day work. This is up from up from 75% in 2014. What's more, the study reveals that 80% of advisors found new clients through social media, up significantly from 49% in 2013. The respondents said that engaging with people online added a median amount of $1.9 million to their assets under management (AUM), with an average gain of $4.9 million

43 years old and 10 years of experience

Putnam says that the typical social-networking advisor is 43 years old and works at an independent broker-dealer. He or she has 10 years of experience, runs a book of business with a median AUM of $92 million, and is active on networks daily. Where are advisors engaging with clients and prospects? The survey reveals that LinkedIn is the most popular choice with 55% of advisors active on the site, while Facebook and Twitter were used by 32% and 12% respectively.

“The use of social media has matured”

“The use of social media by the financial advisor community has matured to a level where it is ingrained in how business is conducted and how professionals communicate with their clients and prospects,” says William T. Connolly, co-head of global distribution at Putnam Investments. “In our ongoing dialogue with financial professionals, it is eminently clear that social media’s role as a critical conduit for advisors in reaching the marketplace is going to continue to deepen and evolve for the foreseeable future.

More detailed findings are available on Putnam Investments’ web site for advisors.