Accountancy firms need to stand up to finfluencers

The shift to alternative advice from finfluencers and AI means firms have to work twice as hard to retain clients and win new business, and they cannot stand idly by in the face of the threat, says Esha Amani-Cundy, personal tax manager at Ward Goodman

Unregulated social media advice and AI tools are giving younger taxpayers the illusion of free technical guidance. Simply warning against the risks isn’t enough, instead traditional firms must adapt to stay relevant.

Accountancy practices are confronting a significant shift in how business owners and individuals access advice. Rather than relying on professional firms or personal accountants for tax and financial guidance, younger generations are turning online to AI tools and social media finfluencers.

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