In the age of TikTok trends and Instagram reels, it’s no surprise that financial advice has found its way into your social media feed. Enter the finfluencer, a new breed of influencer focused on money, investing, and personal finance. They can range from everyday people sharing budgeting tips to professionals explaining market trends in digestible, bite-sized videos.
As a Certified Financial Planner®, I recognize that this movement is reshaping how people learn about money. And while we may technically fall into the “finfluencer” category through our online presence, there’s a big difference between curated content and qualified advice. So, let’s unpack both the promise and the pitfalls of this growing phenomenon.
The Positives: Why Finfluencers Are Making an Impact
- Financial Literacy Is Becoming Mainstream
For many, especially younger generations, traditional finance has felt intimidating or out of reach. Finfluencers help break down complex topics like compound interest, the alphabet soup (RRSPs, TFSAs, FHSAS, etc.) or credit scores into relatable, accessible language.
- They Start the Conversation
Money has long been a taboo topic, but that’s changing. Finfluencers normalize talking about debt, savings, and investing, helping to reduce stigma and encourage better financial habits.
- They’re Fast and Engaging
In an attention economy, grabbing interest in under 30 seconds is powerful. Social media makes learning about finances more dynamic, even fun. That engagement often acts as a stepping stone to more serious financial planning.
The Concerns: When Entertainment Outpaces Expertise
- Credentials Matter—And Many Don’t Have Them
The financial industry is regulated for a reason. Many finfluencers operate without licenses or formal training, yet offer sweeping investment recommendations. This can lead to misinformation, unrealistic expectations, or even financial harm.
- Oversimplification Can Be Risky
Social media rewards simplicity, but real financial planning is nuanced. What works for one person may not work for another. Generic advice especially in areas like insurance, investing, and tax strategies can be misleading without context.
- Conflict of Interest Is Common
Sponsored content, affiliate links, and paid promotions are rampant. Not all influencers disclose their compensation clearly, which can bias the advice you see.
So, Where Does That Leave You?
As a firm with a fiduciary duty and deep industry experience, we support efforts that promote financial literacy but we encourage everyone to dig deeper before acting on advice from social media. That includes us.
We share educational content online to help demystify finance but everything we publish is rooted in real-world credentials, years of experience, and a commitment to putting clients’ interests first.
Before you follow any financial advice, ask yourself:
- Who is giving this advice?
- Are they licensed or certified?
- Are they being paid to promote a product?
- Does this advice apply to my situation?
Finfluencers are here to stay, and they can be a great gateway to building financial awareness. But ultimately, the best decisions come from guidance tailored to you: your goals, your risk tolerance, and your financial picture.
So, whether you’re watching a TikTok about ETFs or reading an Instagram post on investing, always check the source, and when in doubt, consult a qualified professional.
If you’re ready for advice that goes beyond the algorithm, our door, and inbox is always open.
Advisory
As your Chief Financial Officer, I’m here to help you understand the various tools available to you and your business to build your wealth. There are many factors to consider and understanding your goals is key to building a plan that serves you today and well into the future – as your life changes.
Have more questions than answers? Educating you is just one piece of being your personal CFO that I offer. Call (780-261-3098) or email (roxanne@c3wealthadvisors.ca) today to discuss insurance.
Roxanne Arnal is a former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence, & Control.
These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.
