Nearly 60% say sites are their main media source when it comes to work activities -- versus 12% who point to TV as their main platform for work-related information.
But when it comes to advertising recall, nearly half -- 47% -- of all advisors recall seeing some advertising for leading asset managers on TV. Some 30% of those advisors recall seeing those financial messages on a Web site. The research comes from Market Strategies International's Cogent Reports.
Overall, Fidelity Investments tallied the highest results for an individual financial advertiser -- 77% of advisors reported seeing at least one ad by the company in the previous month.
iShares, at 63%; BlackRock, with 61%; Franklin Templeton, at 60%; MetLife, with 54%; Pacific Life, at 53%, and Vanguard, with 53% also managed to reach a majority of advisors through advertising during the same period.
The research didn’t identify whether the individual advertiser recall data came from TV or a Web site.
Top TV networks for advisors: CNBC, 45%; ESPN, 33%; CBS, 31%; NBC, 28%; Fox News, 26%; ABC, 24%; Fox, 20%; Bloomberg, 19%; and CNN, 17%.
Top Web sites for advisors: Yahoo Finance, 21%; Morningstar, 18%; Bloomberg, 16%; CNBC, 16%; The Wall Street Journal, 15%; MarketWatch, 10%; MSN Money, 10%; and Google Finance, 10%.
The study says over one-third -- 35% -- of advisors who recall seeing an ad report take some type of action. Cogent Reports conducted an online survey with 400 financial advisors in February and March of this year -- with respondents investment planning/advice business of at least $5 million.
In interpreting studies of this nature one must consider the reach factor. If a typical ad campaign on TV garners a 75%reach over a particular time frame while an online effort gets to only 30% of your target group, it's only natural that more people will recall seeing your ads on TV----false claiming aside, of course. This does not necessarily mean that an average ad exposure on TV is superior to its online counterpart in communicating the advertiser's message or motivating the audience to take some action.