"Using social media channels can be daunting, but they are a great place to showcase an IFA’s web content, while first making sure it’s compliant and professional."
One in 20 firms said they don’t need a website at all, while almost 40% didn’t think it was important for their website to be mobile-friendly.
Despite this, IFAs were aware that a website should be professional (90%), compliant (89%) and useful to clients (81%), according to the research.
David Ryder, head of proposition at Paradigm Consulting, said: “Websites can often be seen as simply a sales tool, but they’re so much more important than that.
“They can play a huge role in the client support mechanism, which is why it was slightly disturbing that only 60% of IFAs thought mobile-friendly was important, when mobile web traffic is continually growing.
“If a website isn’t mobile-friendly, it could potentially give people reason to consider if they use a firm in the future.
“Social media has an important part to play too, particularly given that current and future generations of potential clients are practically born with a smart phone and social channels in their hand.
“Using social media channels can be daunting, but they are a great place to showcase an IFA’s web content, while first making sure it’s compliant and professional.
“But a website and social channels will only be of maximum benefit if they’re compliant, so constantly updated with the latest FCA regulations and policies. Only then can a digital presence start to provide positive promotion of an IFA.”
Mark Barry, managing director of financial website provider Adviser Portals, said: “Websites play such an important role in our lives, and they are vital to IFAs, so to see so many not valuing an online presence is concerning.
“Having a digital presence is particularly important because many people now carry out online research, before even thinking about face-to-face communication.
“People want to know things before they directly engage, so websites and social media play hugely important roles in helping support advisors with client relationships, and perhaps even bringing new clients to the firm.
“The research we carried out with Paradigm Consulting shows that many IFAs do place value in a positive web presence, but that there’s still some way to go before all firms are making the most of the digital opportunities available.”