Asset managers are largely using social media to promote their brands, according to the latest research fromCerulli Associates.

"More firms are using social media, with 47% of managers surveyed citing social media as a key element," explainsPamela DeBolt, senior analyst at Cerulli. "LinkedIn and Twitter were ranked as having the most potential, with LinkedIn rated as the most-used social media outlet among managers."

"We found that 79% of asset managers who are using social media see the importance of boosting brand recognition," DeBolt continues. "Promoting brand, enriching communication, and promoting a firm's capabilities are among the top reasons managers are motivated to use social media."