Printer Friendly

STUDY SHOWS MEDIA KEY SOURCE OF INVESTMENT ADVICE AND GUIDANCE

 BOSTON, Jan., 19 /PRNewswire/ -- Consumers are more likely to rely on print media such as local newspapers, business newspapers, magazines and financial newsletters, than broadcast media as sources of investment advice and information, according to a study conducted for Liberty Financial Companies. Among the findings of the survey was that the most frequently consulted media include local newspapers (70 percent), business newspapers (60 percent), magazines (59 percent), and financial newsletters (47 percent).
 "Thanks to the growing fields of business and personal finance journalism, more investors and their advisors are turning to the media for guidance not only for which funds to buy, but to learn about the overall benefit of investing long-term," said Kenneth R. Leibler, president and chief operating officer of Liberty Financial Companies.
 The survey, Upscale Consumer Views of Banks as Sources of Non- Traditional Products, was sponsored by Liberty Financial Companies and conducted by Research & Forecasts Inc., a New York public opinion survey research firm. The findings are based on a nationwide telephone survey of 250 randomly selected upscale customers with $50,000 to $200,000 in total 1991 household income. The interviews took place between Aug. 31 and Sept. 14, 1992, and the margin of error for the total sample is +/- 6 percent.
 According to the survey, print media was named as the "most valuable" source of information with business newspapers cited by 23 percent of respondents, local newspapers by 20 percent of respondents, financial newsletters by 15 percent, and magazines by 12 percent. Cable TV is named by 5 percent, network television by 4 percent, public broadcasting by 4 percent and radio by 3 percent.
 When the broadcast media was cited, television and radio are often consulted, with network television cited by 51 percent, public broadcasting (48 percent), cable TV (34 percent), and radio (29 percent). Relatively few consumers (14 percent) consult computer database services.
 Liberty Financial Companies is a widely diversified financial services organization, with over $30 billion in assets under management. The Liberty Financial Bank Group, with more than $1 billion in product sales, is a leading full-service marketer and distributor of investment and insurance products to banking institutions across the U.S. Other Liberty Financial operating companies include: Stein Roe & Farnham, Incorporated; Keyport Life Insurance Co., Liberty Asset Management Co.; Liberty Financial Funds and Liberty Real Estate Group.
 -0- 1/19/93
 /CONTACT: William Rice of Liberty Financial, 617-722-0897, or David Fridling of Ruder Finn, 212-593-6321, for Liberty Financial/


CO: Liberty Financial ST: Massachusetts IN: FIN SU:

TM -- NE020 -- 6523 01/19/93 16:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 19, 1993
Words:424
Previous Article:THE ARES-SERONO GROUP REPORTS CONTINUED SALES GROWTH IN 1992
Next Article:CONSUMER KNOWLEDGE GAP EXISTS REGARDING GROWTH OF INVESTMENT PRODUCTS AT BANKS
Topics:


Related Articles
DALBAR Landmark Study about Personal Finance Advice: Investors Want People, Not Paper When it Comes to Advice
Merrill Lynch Selects Financial Engines to Deliver Internet-Based Investment Advice to 401(k) Participants.
Accountants Positioned To Expand Financial Planning Services to Affluent Clients, Nationwide Financial Survey Shows; Affluent report trust in...
American Express Retirement Services Unveils Comprehensive Advice and Guidance Platform; Selects Morningstar(R) ClearFuture(R) Online and Phone...
Morningstar Introduces Enterprise Advice Solution, the First Fully Integrated Retirement Advice Service for Plan Participants, Sponsors and Financial...
EPIC Advisors Selects Morningstar Retirement Guidance and Advice.
September 2nd is National 401(k) Day; Ernst & Young's Financial Planners Offer Guidance on Navigating the Changing Compensation and Benefits...
ICMA-RC Launches Suite of Investment Advisory Services.
There are still sources of funding; in association with RBS Small Business.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters