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Advisers back social media to attract next generation

Advisers back social media to attract next generation

Most advisers think being better at social media is the best way to attract the next generation of clients.

According to a poll among FTAdviser readers, 50 per cent think the best way to attract younger clients is to improve their presence on social media.

This compared to just 16.7 per cent of advisers who said they should offer sessions to their clients' children and the same proportion who said advisers would need to be more "tech-savvy" to attract the next generation of clients.

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Another 16.7 per cent said advisers should "talk to the wider family" in order to attract younger clients.

The poll was carried out ahead of FTAdviser's Financial Advice Forum, which returns as an in-person conference on September 22 in Bracken House, London.

Last year the Financial Conduct Authority warned social media platforms were playing an increasing role in putting consumers at risk of harm through adverts for financial products and the rise of financial influencers - or "finfluencers".

But some advisers have used their social media profiles to counter the rise of some finfluencers who might be pushing high-risk investments and to spread "sensible, repeatable, helpful information".

Other advisers have turned social media followers into clients through platforms such as Instagram.

FTAdviser will be talking in more depth with a host of industry experts about how advisers can grow their businesses at our upcoming Financial Advice Forum.

To book your free place, visit the events page here