Ultra-Rich Use Internet For Financial Dealings.The ultra-rich are among the most likely to use the Internet for routine financial transactions, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. a study.
The study, by Spectrem Group, found that nearly three out of four people worth at least $5 million have used the Internet to obtain investment information in the past year. Only 52% of those with a net worth of $1 million to $5 million went online for the same reasons.
Also, 22% of people worth $5 million or more had done banking online, while 18% had traded securities online and 8% had used the Internet to purchase or redeem mutual-fund shares.
The survey looked at 600 of the country's estimated 596,000 households with $5 million or more in net worth. The consumers involved in the survey had an average net worth of more than $25 million, investable assets of $19 million and annual income that exceeded $2.5 million. The mail survey targeted a sample of 430,000 people who reported insider trading to the Securities and Exchange Commission.
When asked to list their most important reasons for banking or investing online Investing online has become the norm for investors and traders over the past decade with many, if not all brokers now offering online services with unique trading platforms.
In the past, investors had to call up their brokers and place an order on the phone. , 43% said convenience; 37% said both the ability to better track investments and to save time; and 27% said it was the added control over their investments.
But the Internet won't replace financial advisers for the ultra-rich, said David Thompson There are several men named David Thompson:
"Although they claim less need of hand-holding, we found that nearly 70% of our sample continue to use a professional adviser, who is most likely to be a full-service broker Full-Service Broker
A broker that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount or an independent adviser," Thompson said in a statement.
A consumer survey by Quicken-Insurance and the Electronic Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. Council found that 25% of households with Internet access See how to access the Internet. would use the Internet to shop for insurance.