Positive Solutions is developing an online strategy for its partners to ensure there is a "consistency" among those using social networking services.
Marketing director Keith Gilmour says the national IFA has not yet banned use of tools such as the ‘microblog' Twitter but describes their use as potentially "incredibly fraught".
He says advisers posting messages which can be viewed by the public could be "misconstrued" as advice, adding partners could also inadvertently promote their services.
"We are looking at how partners present themselves online," he says. "We must have an element of consistency.
"When does a comment become advice? When can it be misconstrued as advice? What about financial promotions? It is an incredibly fraught area."
Networking forum IFA Life says advisers are using social media "incorrectly" if they advertise products or try to sell investments.
But founder Philip Calvert says it is acceptable to use tools such as Twitter to "highlight knowledge and expertise, comment on news, share opinion and so on".
The "incorrect" use of social media has been highlighted before in the financial advice space.
Last year, an investigation by IFAonline found popular directory provider 118 118 had been using unreliable websites to source financial "advice" it was then passing to consumers using its 'Ask Us Anything' phone and text service.
The enquiries service was hiring graduates for the Q&A tool to answer quick-fire questions on pensions, mortgages, investments and protection.
On one occasion, when asked by a member of the IFAonline team what one should do if deeply in debt, it replied: "Try applying for a loan with a low interest rate".
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