FSM and the Institute of Financial Planning surveyed over 2,000 financial advisers on how they use social media in their business.
Over half of advisers said they had been using social media for less than two years and the most popular sites were LinkedIn, blogs, Facebook and Twitter.
Some 62 per cent of people used LinkedIn, 57 per cent used blogs, 52 per cent used Facebook and Twitter was used by 44 per cent.
However, some 54 per cent said they had not seen a positive return from using social media yet.
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Bridget Greenwood from FSM, who is speaking at the IFP's social media conference today, said; "It's important to remember that while 54 per cent of advisers are yet to see a result, many of them do not have a plan, are not showing up regularly and aren't looking to engage with clients."
Some 32 per cent of advisers had seen a return within a year while 12 per cent had seen a return within three months.
It also highlighted the importance of using social media regularly as 40 per cent of advisers who used it daily had gained new clients as a result.
However, just three per cent of advisers had sought advice on how to use social media and 58 per cent would like more resources to help with social media.

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