More than one third (38%) of those aged 18-34 have said that they would trust financial information from a social media personality, including influencers on TikTok, YouTube, Instagram, X (formerly Twitter) and Reddit.
Nearly a quarter (21%) of 35-54-year-olds also said they trust financial information from this source, according to the Personal Investment Management and Financial Advice Association (PIMFA). The trade body's 'Under 40 Leadership Committee Report', which was published last Thursday (14 December), also found that the majority (67%) of people aged 18-34 have viewed financial posts from social media personalities. More than half (57%) of existing clients have seen financial posts on social media, while 64% of those with investable assets over £500,000 have viewed financial posts on soc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
