A new poll from SEI Wealth Network, a wealth-advisory firm, suggests that a majority of millionaires have signed up for social media sites. There is just one problem: They don’t have time to actually use them.

70% of respondents with $5 million or more in investible assets are users of Facebook and other social media sites. But the poll also showed that only 17% of the multimillionaires use the sites on a daily basis.

That is far less than the broader population, in which 38% use such sites at least once a day. The main reason: the wealthy are squeezed for time.

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