“You need to be in that social space, otherwise you’ll miss a lot of the opportunities out there, given the growing self-directed nature of individuals saving for retirement,” Mr Dunn said.

“Whilst self-directed, these individuals do actively seek out specialist advice, in particular to validate that they are heading in the right direction,” he added.

In addition, social media can be an effective tool to communicate information in a timely manner to clients, creating the potential to have “multiple conversations” on a weekly basis, Mr Dunn said.

“Being able to disseminate what’s going on and understand what is relevant to the client, and curate that information and have it available for them, can become a very effective tool to provide that information to your clients on an ongoing basis,” he said.

“Those clients can potentially become your greatest advocates as they start to share a lot of that information as well.”

Mr Dunn also indicated recent quarterly statistics from the Australian Taxation Office show that approximately 40 per cent of new SMSF members and trustees are under the age of 45 – an age bracket that is typically active in the social media space.

If you are interested in learning more from one of Australia’s leading SMSF educators, Aaron will be speaking at the SMSF Strategy Day in Melbourne, Brisbane and Sydney in November. For more information about the event CLICK HERE.