
Financial advice was once dispensed by a well-dressed fellow in a wood-panelled office. Today it arrives through 60-second clips from social media figures.
People are flocking to online platforms to share their own financial commentary on a range of issues. TikTok, Youtube and X are now filled with people promoting volatile cryptocurrencies and activist investing, with posts with the hashtags #FinTok and #StockTok racking up billions of views.
But there is also a wealth of practical finance videos sharing free advice on everything from budgeting and debt repayment strategies to savings hacks and investment tips. Here, complex financial topics are broken down into quippy, manageable chunks, helping people who feel finance is intimidating, dull or overly complicated grasp the fundamentals.
A movement that democratises finance may even be forgiven for bandying about the unlovable word ‘finfluencers’.
The rise of the finfluencer
For many generation-Z and millennial users, social media is their first and only source of education on money matters.
The Young Money report by management consultancy, MRM, found that almost half (45%) of people aged 18 to 30 receive all of their financial information from social media, while six in 10 (59%) say they follow a finfluencer. Only 3% of respondents said they do not trust finfluencer information, while a substantial 77% do.
The move towards social media as a source of trusted financial information represents a profound change in how people access and consume financial knowledge. While professional financial advisors still hold significant influence, they are no longer the sole authorities.
The reel cost
This shift comes with significant risks. To become a finfluencer all one needs to do is start posting videos online. There are very obvious dangers that come with such a low barrier to entry: people do not have to be qualified, information is not regulated, there is no client-adviser relationship and few precautions are taken to protect financially vulnerable users.
While some finfluencers offer genuine guidance, others are spreading unverified and, in some cases, harmful advice. The Financial Conduct Authority has pledged to crackdown on finfluencers by removing social media posts and websites that feature misleading or illegal financial information. Last year, the City regulator charged nine individuals, including a handful of reality-television stars, in relation to an unauthorised foreign exchange trading scheme they promoted on social media.
A new era of financial storytelling
For better or worse, the rise of the finfluencer is reshaping the financial landscape. As these new figureheads continue to amass huge followings, businesses and their finance chiefs may want to monitor how their company is being discussed online. Some might consider partnering with credible financial educators or investing in corporate content that demystifies financial results and strategies during earnings calls.
In many ways, CFOs are the original finfluencers. As both financial stewards and leaders responsible for maintaining organisational resilience, they are responsible for supporting efforts to promote clear financial communication. With social media ushering in a new style of financial storytelling, they may want to consider how best to communicate financial narratives in an increasingly digital landscape, exploring how financial messaging can be more accessible and engaging.
The reach of finfluencers continues to grow. Finance executives, who are increasingly under pressure to add soft skills to their mastery of the hard numbers, may want to take note.

Financial advice was once dispensed by a well-dressed fellow in a wood-panelled office. Today it arrives through 60-second clips from social media figures.
People are flocking to online platforms to share their own financial commentary on a range of issues. TikTok, Youtube and X are now filled with people promoting volatile cryptocurrencies and activist investing, with posts with the hashtags #FinTok and #StockTok racking up billions of views.
But there is also a wealth of practical finance videos sharing free advice on everything from budgeting and debt repayment strategies to savings hacks and investment tips. Here, complex financial topics are broken down into quippy, manageable chunks, helping people who feel finance is intimidating, dull or overly complicated grasp the fundamentals.