Financial Advice via Social Media: The Rise of the “Finfluencer”
The Arkansas Securities Department has issued a new investor advisory entitled “Financial Advice via Social Media: The Rise of the ‘Finfluencer’.”
Social media has become one of the main ways in which people connect to one another. This has been especially true during the years of the COVID-19 pandemic when in-person contact was viewed by many as risky. With newsworthy stock market volatility dominating Main Street news headlines since early 2020, interest in investing has seen a dramatic increase.
Influencers have taken notice and social media has become more saturated with financial content than ever before, leading to the rise of the financial influencer or “finfluencer.” The investor advisory explains what financial influencers are, how they are compensated, what you should keep in mind when you are exposed to financial influencers’ content, red flags to watch out for, and resources available to you.
Please click HERE to view the new investor advisory and learn more.