Social media influencers promote all manner of things, from phones to flights, restaurants and cars – and even protection policies. Taking financial advice from unqualified Instagrammers, however, can be a risky business.
Conduct crackdown
In 2022, the Financial Conduct Authority (FCA) warned financial firms about how they use influencers to promote their products on social media. With an abundance of adverts targeting online scrollers with financial advice (sometimes slyly, without revealing it is a paid ad), it is more important than ever to be vigilant.
All about you
When it comes to something as important as protection and insurance, you need to think carefully. Expert advice can take account of your personal circumstances, offer a range of options and give you the necessary time and support to make the best decision for your unique long-term needs.
In contrast, adverts fronted by online influencers rely on the personality and popularity of the influencer. This can result in consumers not being offered the most suitable products, not being given time to properly review quotes and lacking support throughout the whole process.
Listen to the experts
Advisers are qualified experts for a reason! We are here to help you make the best decision tailored to your unique situation – get in touch today.
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.