Secondly, we have the FCA’s consultation on financial promotions and social media. Read it and you’ll soon realise the impact it’ll have on advisers/planners, as well as finfluencers, a group which largely goes unnoticed in the advice/planning community, mainly because they’re most active on TikTok. But they’re growing in number, reach and influence, with many large investment providers agreeing lucrative affiliate deals.
It’s clear the FCA is turning its attention to financial promotions on social media and we can expect firmer rules over the coming months. Some of which may well affect how advice/planning firms use social media.
AI revolution > regulatory intervention
The consumer duty, and the FCA’s newfound focus on social media, are two rare examples of regulatory change impacting how advice/planning firms market themselves.
Despite that their impact on adviser/planner marketing is tiny compared to the digital revolution we’ve all been through and the nascent AI revolution we’re all about to experience.
