WebProNews

The Internet continues to be the most important source of information for investors and financial advisors, according to a new online survey by Forbes.com.

The survey found that 65 percent of individual investors consider the Internet their most important source of investing information. This is an increase from 52 percent in 2005.

Close to half (47%) of investors spend 20 or more hours per week online and 54 percent spent more time on the Web in 2008.

Twenty-nine percent spent less time reading daily newspapers, 37 percent spent less time watching television, and 32 percent spent less time listening to the radio, compared to only 3 percent who spent less time online.

Newspapers were cited by 17 percent of respondents as the most important source of investing information, down from 20 percent in 2005.

Among financial advisors 68 percent consider the Internet as their most important source of investing information.

Half said they spent more time on the Internet in 2008 and 39 percent spend 20 hours or more per week online.

"In these turbulent times, the need for up-to-date business information is more critical than ever. These two studies further underscore the trend where more affluent investors and business decision makers are looking to the Web as their primary source of business information," said Jim Spanfeller, President and CEO of Forbes.com.