When 28 year old financial influencer – ‘finfluencer’ – Olamide Majekodunmi began witnessing the Financial Conduct Authority (FCA) crack down on content creators, she realised she had to safeguard her growing social media business, All Things Money. Though like many others in her field, she feels financial services often unfairly targets young ambitious entrepreneurs for carving out their own path to money education.
"The term ‘influencer' often gets a really bad reputation. It's a real shame, because as much as you do have really bad content creators, you have some great ones sharing great tips in personal finance education, and I would like to call myself one of those in the good category," Majekodunmi – Ola to her friends and followers – said. Yet more than two thirds (68%) of the most-viewed finfluencer TikTok videos last year breached the FCA's rules, according to analysis by financial promotions compliance platform Adclear. With views running into the millions, their reach, and potential damage...
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