One-third of wealthy investors use social media platforms like Facebook, LinkedIn, Twitter and YouTube for personal finance and investing purposes, according to a new study by Cogent Research. While most investors continue to rely on a variety of resources for investment information, nearly 70 percent have reallocated investments or began or altered relationships with investment providers based on content found through social media.

Social Media’s Impact on Personal Finance and Investment surveyed more than 4,000 investors with more than $100,000 in investable assets.

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