YouTube ‘to help’ debtors

Online video hosting network YouTube is being used increasingly by independent financial advisors (IFAs), a move that is likely to help debtors access information and counsel more easily.

According to Philip Calvert, the founder of social networking site IFA Life, video is to become a key factor in the industry, assisting financial professionals in enhancing their online presence and ability to offer advice.

He observed that people turn to the internet first to find IFAs and “they want to see and experience and advisor on video before making contact”.

Mr Calvert added that pages such as YouTube will be “central” in finding videos of experts.

It was also noted that film is beneficial for IFAs in that it captivates attention on websites and helps debtors gain knowledge regarding credibility, expertise and likeability.

Providing easier access to IFAs may be increasingly important for borrowers, as recent research from the British Retail Consortium revealed that 15 per cent of people are concerned about debt, a rise of five percentage points year-on-year.

By Sarah Adie