Where Finance Professionals Go To Get Their News.
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Transcript of Where Finance Professionals Go To Get Their News.
Where finance professionals get their financial news
A survey of finance industry professionals in Australia
Contents Executive Summary……………………………………………………………………………….2
Analysis……………………………………………………………………………………………..5
How often do you access financial news or information online ………………………………6
How often do you access financial news or information via traditional offline media...…….7
Principle source to access financial information………………………………………………..8
Principle source to access financial information – online..……….……………………………9
Principle source to access financial information – offline……………………………………...10
Sources used to access financial information – social media………………………………...11
Principle source to access financial information – social media………………………….…..12
Devices used to access financial information…………………………………………………..13
Sources used to access financial information………………………………………................14
Sources used to access financial information – online………………………………………...15
Sources used to access financial information – offline………………………………………...16
Why is this your preferred source for financial information……………………………..….....18
Main reasons you are looking for financial information…………………………………..……19
Satisfaction with the financial information you are reading……………………………………20
What do you want from the financial information you read……………………………………21
Background…………………………………………………………………………………………22
1
Disclaimer Statement The material in this report is assembled in good faith and is based on the perceptions of respondents who may have been surveyed. It is made available on the understanding that any views, suggestions or recommendations expressed in this report does not constitute professional advice, and McGregor Tan Research accepts no liability for its use.
COMMERCIAL IN CONFIDENCE
Executive summary
Almost half of the respondents indicated they accessed financial news or information via traditional offline media several times a day (46%), while a further one quarter (25%) access news or information once a day.
The majority (80%) of those surveyed stated they accessed financial news or information online several times a day.
Almost all (99%) respondents indicated they accessed information online, while 89% access information offline (via traditional sources) and 41% use social media.
Online sources included:
• Financial trade / industry media (58%)
• Other financial publications (49%)
• The Australian Financial Review (40%)
Offline sources included the Australian Financial Review (63%) and TV (50%)
Social media platforms included:
• Linked In (31%)
• Twitter (13%)
• Facebook (10%)
3
Executive summary Almost three quarters of those surveyed stated their principal source to access financial information was online (72%). Smaller proportions indicated offline
(17%) and social media (11%).
The reason for being the preferred source for financial information included:
• It is easy to access (19%)
• Because it’s online (16%)
• Good coverage (14%)
• Relevant information (14%)
Smart phones (64%) and desktop computers (64%) were the flavoured devices for accessing financial information, followed closely by tablets (51%) and laptops (49%).
The main reasons respondents were looking for financial information were:
• To keep up to date with macro-economic picture (80%)
• To monitor the markets (70%)
• Research (62%)
The three things that respondents wanted from the financial information they were accessing were:
• Market intelligence (79%)
• Market analysis (73%)
• Market opinion (62%)
While the overwhelming majority (90%) of those surveyed indicated they were satisfied with the financial information they were reading, only 23% indicated they were very satisfied.
4
How often do you access financial news or information online
Variances
Those who are in the Funds Management sector (87%) had a higher incidence of stating they access financial news or information online several times a day.
6
Respondents were asked how often they accessed financial news or information online.
The overwhelming majority (80%) of those surveyed stated they access this information several times a day.
Other responses recorded included:
§ Once a day (9%)
§ Several times a week (8%)
§ Once a week (2%)
§ Less than once a week (1%)
How often do you access financial news or information via traditional offline media
Variances
Those who indicated they access financial news or information via traditional offline media several times per week were more likely to hold a middle level position in their workplace (23%).
7
Those surveyed were asked how often they access financial news or information via traditional offline media such as radio, TV and newspaper.
More than two in five (46%) respondents stated they accessed offline media several times a day.
Other responses included:
§ Once a day (25%)
§ Several times a week (15%)
§ Once a week (5%)
§ Less than once a week (9%)
Principal source to access financial information
8
When respondents were asked which was their principal source to access financial information, the majority (72%) indicated they access information online.
Offline (via traditional media) (17%) and social media (11%) were mentioned by smaller proportions of respondents.
Principal source to access financial information – online
9
Almost one quarter of those who indicated their principal source was online stated they access the Financial Trade / industry media (23%).
Other online sources included:
§ Other financial publications (11%)
§ Bloomberg (10%)
§ The Australian Financial Review (9%)
§ Metropolitan newspapers (5%)
Variances
Online - Those who are employed by a corporation (12%) and those in the Funds Management sector (15%) were more likely to access Bloomberg.
Principal source to access financial information – offline
10
The Australian Financial Review was mentioned by 11% of those surveyed who stated their principal source to access financial information was offline.
Other sources included:
§ Other metropolitan newspapers (2%)
§ TV (2%)
§ The Australian (1%)
§ Radio (1%)
Variances
Offline - Those in the Asset Owner sector (19%) had a higher incidence of accessing The Australian Financial Review.
Sources used to access financial information – social media
11
Almost one third used LinkedIn (31%) to access financial information.
Other forms of social media included:
§ Twitter (13%)
§ Facebook (10%)
§ Instagram (2%)
Principal source to access financial information – social media
12
Respondents who indicated their principal source was social media, mentioned LinkedIn (7%), Facebook (2%) and Twitter (2%).
Variances Social Media - Respondents in other industry sectors (13%) were more likely to access Linked In.
Devices used to access financial information
Those surveyed were asked when thinking about when you access financial information, which devices do you use.
Smart phones (64%) and desktop computers (64%) were the most commonly mentioned devices to access financial information, followed closely by tablets (51%) and laptops (49%).
Variances
Those aged 30 to 44 (80%) and those in the Funds Management sector (72%) had a higher incidence of using a smart phone to access information.
Respondents in other financial sectors (59%) were more likely to use a laptop to access information.
13
Sources used to access financial information
14
Those surveyed were asked which sources they used to access financial information.
99% of those surveyed indicated they access information online.
However traditional media was very popular as well with 89% accessing information offline via traditional media.
Two in five (41%) used social media to access financial information.
Sources used to access financial information – online
Of the respondents who stated they access financial information online, three in five (58%) indicated they access the Financial Trade / industry media.
Other online sources include:
§ Other financial publications (49%)
§ The Australian Financial Review (40%)
§ Bloomberg (33%)
§ Metropolitan newspapers (27%)
§ Financial Times (21%)
15
Sources used to access financial information – offline
16
Almost two thirds (63%) of respondents stated they access The Australian Financial Review offline via traditional media.
Other offline sources included:
§ TV (50%)
§ Radio (30%)
§ Other metropolitan newspapers (28%)
§ The Australian (17%)
Online (page16)
• Those aged 30 to 44 (50%) were more likely to access The Australian Financial Review.
• Respondents aged 30 to 44 (45%), those who work for a corporation (37%) and those in the Funds Management sector (46%) had a higher incidence of accessing Bloomberg.
• Those in the Funds Management sector (36%) were more likely to access Metropolitan newspapers.
• Respondents aged 30 to 44 (28%), those employed in a middle level position (30%) and those in the Funds Management sector (28%) were more likely to access The Financial Times.
• Those employed in a middle level position (23%) and those in the Funds Management sector (20%) had a higher incidence of accessing The Wall St Journal.
Offline (page17)
• Those who work for a corporation (69%), those in the Funds Management (72%) and the Asset Owner sector (76%) were more likely to access The Australian Financial Review.
• Respondents aged 40 to 59 (37%) had a higher incidence of accessing the radio.
• Those aged 60 plus (41%) and sole traders (37%) had a higher incidence of accessing other metropolitan newspapers.
Social Media (pages 11 – 12)
• Respondents aged 30 to 44 (38%) were more likely to access LinkedIn.
• Respondents aged 30 to 44 (22%) were more likely to access Twitter.
• Females (19%), those aged 30 to 44 (15%) and those in the Financial Advisor sector (14%) had a higher incidence of accessing Facebook.
17
Variances
Why is this your preferred source for financial information
Respondents were then asked why is this your preferred source for financial information.
One in five (19%) indicated it was easy to access, while 16% stated because it’s online.
Other responses included:
§ Relevant information (14%)
§ Good coverage (14%)
§ Up to date (7%)
§ Convenience (7%)
§ The Australian Financial Review (6%)
§ Reliable (6%)
There were no significant variances amongst the groups surveyed.
18
Main reasons you are looking for financial informa3on
Variances:
Those in the Financial Advisor sector (69%) had a higher incidence of looking for financial information for research.
Respondents in other financial sectors (23%) were more likely to look for information to find business leads.
19
Respondents were asked what were the main reasons for looking for financial information.
Eight in ten (80%) stated they were looking for financial information to keep up to date with macro-economic picture.
Other responses included:
§ To monitor the markets (70%)
§ Research (62%)
§ To find business leads (14%)
Satisfaction with the financial information you are reading
The overwhelming majority (90%) were satisfied with the financial information they are reading.
The scaled responses are:
§ Very satisfied (23%)
§ Satisfied (66%)
§ Neither (7%)
§ Dissatisfied (1%)
§ Very dissatisfied (2%)
There were no significant variances amongst the group surveyed.
20
What do you want from the financial information you read
Variances
Respondents in the Funds Management sector (85%) and in other financial sectors (87%) had a higher incidence of wanting market intelligence.
21
Those surveyed were asked what they want from the financial information they read.
Almost four in five (79%) indicated they want market intelligence, while 73% want market analysis and market opinion (62%).