Financial Planning firms could stand to benefit if Twitter decides to axe its 140 character limit, a social media expert says.

Jack Dorsey, chief executive of the social website giant, last week said that plans were being considered to dramatically increase the amount a user can write to 10,000.

Some critics have been quick to say that it would be a mistake because Twitter would lose the key thing that gives it a distinct identity from rival social media platforms.

But Smarsh, a social media advisory firm that works with financial services companies, said there were upsides.

Anna Carless, Smarsh marketing director for EMEA, Said: “There are many advantages of this proposed change for Financial Planners and advisers. Not least is their ability to meet disclosure requirements on the platform itself, rather than having to defer visitors to another URL.

“For example, terms and conditions for a financial promotion can be placed directly under the promotional 140-character tweet.

“In this case, it will be interesting to see how the FCA adjusts it’s FG 15/04 Social Media Guidance accordingly.

“Smaller adviser planning firms will also benefit from better capabilities in search and search engine optimisation as any extra characters beyond the 140 will also be searchable- a massive marketing benefit.

“The proposed change will also allow greater variety of content thus allowing advisers to provide richer and deeper information for prospects or clients. The only potential disadvantage we foresee is the increase of spamming that the additional character limit offers.”

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Asked if she would agree that it would fundamentally alter the unique point Twitter holds over other social media sites, he said: “Ultimately, the uniqueness of Twitter rests heavily on the final design.”

He said: “Our understanding is that, Twitter is proposing to display copy within 140 characters but add an ‘expand’ functionality, which readers can click on to reveal more content if they wish. Based on this design approach any call to actions will still be visible, users will still benefit from Twitter’s minimalism and be able to choose words with care.

“The added benefit being users can access more context to the tweet, if desired. As such the speed, engagement levels and succinctness of the tool should not be diminished. In reality, we don’t anticipate users concept of, or their or interaction, with Twitter will evolve significantly as a result of this proposed change.”

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