In a report by Zurich Financial Services Australia, the number of financial advisers using social media has increased. Financial advisers have made use of social networking sites to connect with clients.

The survey was conducted by Beaton Research. The research showed that 34.5% of financial advisers relied on social media sties to connect with prospective clients. LinkedIn was named the most popular platform on the web used to share information about business.

In addition, through the use of social media around 50% of financial advisers connected with their managers in the business.

Zurich's Life and Investment general manager Philip Kwein claimed most users of social media where young financial advisers. These advisers had been in the business for almost ten years.

"This demonstrates that the next generation of advisers are helping shape the future of the industry through their enthusiasm and understanding of social media as an effective business development and communications tool," Kwein said in the report by Financial Standard.