Finfluencers are social media creators who simplify financial concepts like budgeting, investing, and cryptocurrency through engaging videos. A significant number of Canadian retail investors, about 91 percent, engage with social media for financial advice, with 35 percent acting on it. Joyee Yang, a notable finfluencer, highlights that young people appreciate a less formal approach to financial education compared to traditional channels. Concerns raised by financial experts about the reliability of this advice are beginning to prompt regulatory measures globally.
Finfluencers are online creators who make engaging, easy-to-understand videos about budgeting, investing, and cryptocurrency, appealing particularly to a younger audience.
A recent survey found that 91 percent of Canadian retail investors use social media for financial advice, with 35 percent of them acting on such advice.
Financial experts express concern over the trend of finfluencers, leading to regulatory efforts globally to ensure the reliability of financial education.
Joyee Yang, a prominent finfluencer, emphasizes making financial knowledge accessible and less serious, appealing to Gen Z's preferences for informal learning.
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