Social media 'noise' hits professional advice

More than nine in ten (93%) wealth managers and financial advisers reckon that social media noise around stocks makes it harder to give professional advice to clients, according to a new study.

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9 in 10 finfluencer videos 'misleading' says adviser

Nearly nine in 10 financial advice videos on social media platform TikTok (87.5%) are ‘potentially misleading’,  according to a study by advice firm Almond Financial.

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Editor’s Comment: 'Finfluencer' crackdown is overdue

 

There was some shock this week when the FCA announced that it was charging nine social media influencers, including some reality TV stars, in connection with promotion of an unauthorised investment trading scheme.

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9 Finfluencers charged with promoting CFD trading scheme

The FCA has brought charges against nine people in relation to an unauthorised investment scheme promoted on social media.

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