Finfluencers: How to keep up with the changing face of financial advice
What are finfluencers? Finfluencers are social media creators who simplify and share financial advice online.
On TikTok and Instagram, Use trends, memes, and reels to engage audiences.
Who uses finfluencers? Mostly Gen Z and younger millennials who avoid traditional financial channels.
62% of 18–29-year-olds follow financial influencers
74% of them trust the advice they receive
Traditional advisers/media reach far fewer under-30s
What do finfluencers promote? They promote saving, investing, crypto, and even risky or “get rich quick” schemes.
Hashtags like #FinTok and #StockTok have hundreds of thousands of posts.
Are there any risks to finfluencers? Yes—many are unlicensed and may give misleading or biased advice.
58% of young investors acted on risky advice from social media
FCA removed over 10,000 misleading promotions in 2023
Several influencers face legal action for unauthorized promotions
Users often can’t tell ads from genuine advice
How do finfluencers affect me? They compete for younger clients but also present a chance to modernize your approach.
Simplify your messaging and use social platforms effectively
Build trust through clarity and relevance
Engage first-time investors where they already spend time
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