LinkedIn is the most important social media platform for Gen Z clients, those under 30, according to a new study.

The study also revealed that 71% of younger investors now use social media and influencers as "key information" with the numbers rising year on year.

Conversations in online groups also influence 45% of all UK retail investors, up from 39% last year.

The survey of 1,000 investors by investment platform Charles Schwab reveals the growing influence of social media, with younger client groups such as GenZ (aged 16-28) seen as the most internet-focused and social media influenced.

Charles Schwab UK says its Investment Forces survey suggests Gen Z investors are “increasingly reliant” on social media and 'finfluencers.'

Perhaps surprisingly, the most important social media channel of influence for Gen Z was LinkedIn which is primarily promoted as a business media tool. The survey found that for GenZ investors LinkedIn was more important than Instagram, TikTok and Reddit.

Gen Z ranks LinkedIn (46%) as the most important social media channel, ahead of Instagram (44%), TikTok (43%) and Reddit (40%). Within the GenZ age group, 53% of investors think that social media influencers who specialise in finance are important to influencing their investment decisions, a higher percentage than those who believe that the financial media plays an important role (52%).  

Despite the rise of social media, however, 67% of Gen Z investors still consider financial advisers and professional fund managers to be the most important source of information overall when making investment decisions.

Some 63% of all age groups consider financial advisers and professional fund managers to be the most important sources of information.

More than half (51%) of Gen Z also read online blogs and forums when deciding how to invest. There has also been an overall increase in the number of UK retail investors influenced by conversations in online groups, with this figure now at 45%, compared to 39% in 2024.

 According to the survey:

• 71% of Gen Z now use social media and finfluencers as key information sources when making investment decisions
• More than six in ten of Gen Z (62%) rely on conversations within online communities when investing
• Conversations in online groups now influence 45% of all UK retail investors – up from 39% in last year’s survey
• LinkedIn is the most important social media channel for Gen Z investors ahead of Instagram, TikTok and Reddit

Schwab UK recently launched the Schwab Investing Themes for UK investors, which provides a simpler way to invest. It offers 40 curated thematic areas to invest in.

Richard Flynn, managing director at Charles Schwab UK, said: “Digital platforms and the sheer volume of financial information available today has made it much easier for young investors to trade. This is allowing the creation of online investment communities and forums, with finfluencers and social media playing a much more important role in the investment process than in previous years.

“However, the increase in the number of sources that provide investment information means it is becoming increasingly important that young investors know what they can and can’t trust. It is therefore reassuring that our research shows Gen Z still recognise the benefits of proactively seeking professional advice to make the most of their investments.”

US-owned Charles Schwab has 37 million active brokerage accounts, 5.5 million workplace plan participant accounts, 2.1 million banking accounts, and £7.3 trillion in client assets as of 31 March 31, 2025.

• Source: 2025 Charles Schwab UK Investment Forces Study was conducted from 8-28 January. Charles Schwab conducted an online survey of 1,000 people. Respondents were aged 18 or over and held at least one type of investment (based on a list of different asset classes, vehicles and other investment instruments).

Financial Planning Today Analysis: The world of social media is a challenging one for Financial Planners to navigate. Many struggle to find the time and many also lack the skills to utilise social media to its fullest extent. This survey suggests, however, that planners will need to adjust their communication and marketing in future to reflect the fact that the next generation of clients will be very familiar with social media and use it as part of their initial assessment of their financial advice and investment needs. While much is made of the negative aspects of social media, it is reassuring that many younger investors prefer LinkedIn, one of the better run and regulated social media platforms and one widely used by Financial Planners. It's also the case that while many GenZ investors are influenced by social media they still rate seeking professional financial advice highly.