What was once a space dominated by brand updates and product launches has transformed into something far more dynamic and far more closely watched by regulators, customers and firms alike.
1. The year compliance came to social media
Perhaps the most significant shift came with the FCA’s updated guidance on financial promotions via social media, published in March 2024.
The regulator made it clear: the same rules that apply to traditional advertising now apply to Reels, TikToks, and memes.
Whether a firm works with influencers, shares client stories, or posts short-form explainers, all content must be fair, clear and not misleading. Risk warnings must be prominent, and any paid or incentivised relationships must be fully disclosed and approved.
For marketing and compliance teams, this has meant new approval workflows, retraining content creators and introducing stricter oversight. While that has added complexity, it’s also raised professional standards and consumer confidence.
2. The rise and responsibility of the finfluencer
Financial influencers have firmly entered the mainstream. Over the past year, their reach has extended beyond personal finance tips into mortgages, protection, and investment commentary.
Research suggests that one in four UK adults aged 18–34 now use social media as a source of financial guidance. A trend that creates both opportunity and risk.
Authenticity makes influencers effective educators, but it also leaves audiences vulnerable to misinformation. The FCA’s guidance underscored that firms and individuals alike are accountable for the accuracy and fairness of their financial content.
For protection providers, the opportunity lies in partnering responsibly. Working with influencers who understand the boundaries, and providing them with the training and oversight to create content that’s both engaging and compliant.
3. Content formats have matured
The past year has also seen a marked change in how financial content is delivered:
Short-form video has become the dominant medium, helping firms explain complex topics like income protection or critical illness cover in under a minute.
Educational storytelling increasingly outperforms product-led messaging. Consumers respond better to real-life protection stories than to feature lists.
Interactive formats such as polls, quizzes and live Q&As are growing fast, especially on LinkedIn and Instagram, where advisers and professionals seek digestible insights.
This shift towards brevity and authenticity suits the protection sector, which often struggles with consumer engagement. The challenge remains ensuring accuracy and compliance without losing the accessibility that drives engagement.
4. Consumers expect more transparency
Modern audiences expect transparency. They want plain-language explanations, visible disclaimers and honest communication around fees, risks and coverage limitations.
In protection, clarity builds trust. Firms that link to FCA registration details, feature compliance experts or publish educational content about advice processes are strengthening credibility with increasingly informed consumers.
Social purpose also matters. Posts about financial wellbeing, inclusion and accessibility consistently outperform purely promotional content, reinforcing the message that protection is about people, not products.
5. From vanity metrics to value metrics
With tighter marketing budgets, the industry’s focus has shifted from likes and follows to value-driven metrics: engagement quality, lead conversion, sentiment and retention.
As a result, firms are investing more in analytics and compliance-integrated platforms that track performance while maintaining oversight. The emergence of RegTech solutions is helping teams balance creativity, governance and accountability in equal measure.
6. Challenges ahead
Despite real progress, risks remain:
· Misinformation still spreads fast, often amplified by algorithmic incentives.
· Compliance bottlenecks can slow content delivery and frustrate teams.
· Platform volatility, from algorithm updates to ad policy changes, demands constant adaptation.
As AI-generated content becomes more prevalent, firms must ensure automated outputs meet the same standards as human-created material.
7. Looking ahead
Over the next 12 months, three trends are likely to define social media for financial services:
1. Embedded compliance tools. Automation and RegTech will become integral to content workflows.
2. AI-driven personalisation helping advisers deliver relevant messages to specific audience segments.
3. Greater accessibility including captioned, BSL-translated and neuro-inclusive content, ensuring information reaches wider audiences.
A reflection on SM Advice’s first year
Reflecting on the last year, one thing is clear: social media is no longer a peripheral marketing channel for financial services. It is now the public face of the industry — shaping consumer trust, driving education and connecting advisers to clients in real time.
My final takeaway would be this:
“The evolution we’ve seen over the past 12 months reflects a maturing of the entire sector. Firms are learning that compliant doesn’t mean boring, and that authenticity, transparency and professionalism are what really build engagement, especially in protection.”
“The next year will bring new challenges, no doubt but also new opportunities to showcase the professionalism, innovation and humanity of an industry that’s often misunderstood”.
For firms ready to adapt, social media remains one of the most powerful tools available… and for SM Advice, year two begins with the same principle that guided year one: helping advisers and firms have a voice and make it heard, responsibly.
