Now this can be with potential clients or fellow advisers and product providers.
Either works well as communicating with advisers can raise your own profile within the industry and maybe, if a journalist from a financial newspaper is involved with the discussion, you may be asked to write an article.
In summary the FCA should recognise that the vast majority of advisers know what to say and do on social media - should they wish to be involved.
I haven’t seen any adviser speak about double or triple digit returns or making huge delivery promises. Most just repost articles and mix it up with their own view, either on Twitter, or in a LinkedIn group, to promote further discussion.
Social media is a huge step change from the squid ink and parchment marketing letters that some companies use (to great effect I might add).
With LinkedIn lowering its age to 16 allowing for young entrepreneurs (my young cousin makes £100 per month, based on subcribers to his YouTube channel) and Twitter seeing an explosion of joiners aged over 50 (my 93-year-old aunt is now on Facebook), whether we operate in the 18 to 60-years-old market as I do, or 45 plus age group as others do, I think YouTube and social media in general is a great place to display me as a person.
It is a given we advisers are suitably accredited. I think a potential client now chooses an adviser by how they can interact with them, as well as the other staples and what better place to showcase that, than in video, voice and word.
Victor Sacks, independent financial adviser at Peterborough-based Ringrose Grimsley Ltd