Social media is therefore an effective tool to keep an adviser’s network constantly up-to-date regarding live developments. But many financial advisers hesitate to use social media these days because they are concerned about compliance.

While this is certainly understandable, the current rules allow plenty of flexibility to use social media effectively - it is just vital to grasp how to make the most of this new medium.

In rules published back in March, the regulator made it clear they could not stick to 140 characters if their lives depended on it and dictated how your Tweets could be construed as financial promotions.

In their latest tome, the FCA spelt out how it expects you to use this modern form of communication.

This guide calls upon the expertise of lawyers and leading social media lights from the adviser industry to show you why you should never use a Hashtag again, think twice before you retweet and limit your likes. The ramifications of a “misleading” share are also explained.

Contributors of content to this guide were: Sue McLean, technology and outsourcing lawyer at international law firm Morrison & Foerster; Michael Ruck, senior associate for law firm Pinsent Masons; Mark Loosmore, executive general manager (wealth) of Iress; Jay Naylor, head of marketing at Personal Touch Financial Services; Richard Ardron, marketing director of SimplyBiz Group; and Helen Turner, distribution and development director of Tenet Group.