As the regulator takes action against social media posts from so-called finfluencers Sahar Nazir finds their popularity was already on the decline…
Social media influencers specialising in finance, known as ‘finfluencers', have seen a significant decline in popularity among younger generations since the end of 2021, despite ‘finfluencers' becoming a buzzword in the financial advice landscape. Charles Schwab UK research, released earlier this month (2 May), reveals clients are moving away from advice provided by finfluencers, and instead are moving back towards more traditional channels such as financial advisers and investment publications. Finfluencers also appear to be on the Financial Conduct Authority's (FCA) radar after nine...
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