Would you take financial advice from an influencer on TikTok?

29 Jun 2024

Recent research by the Banking and Payments Federation Ireland suggests that 23% of people in Ireland under the age of 35 use social media when looking for information about making future investments. Financial influencers – or "finfluencers" - offer free advice on everything from cash budgeting, saving, borrowing and debt (money advice) to investments (financial advice).

Finfluencers build their advice into content that is easy to understand, engaging, relatable and freely available. This advice can also be deemed to be educational and filling a void created by an absence – perceived or otherwise - of other such sources of advice.