While the risks of taking financial advice from social media have been highlighted, Steph Willcox says there is another side of FinTok that could prove very helpful in promoting advice...
TikTok continues to take the world by storm, with more than 23 million users in the UK alone, and a reported 75% of under 24's using the platform. The popular hashtag #FinTok refers to users on TikTok sharing financial advice, stock tips, tax and debt information and covers a wide range of opinions and ideas. On one side of #FinTok we see the flashy lifestyles of stock tip gurus sitting in Lamborghinis and flying to exotic places on their private jets, encouraging others to opt out of workplace pension schemes and instead put all of their money into the next big stock tip. The imp...
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