Rise of the ‘Finfluencer’ - A Modern Approach to Financial Literacy?

‘Finfluencers’, or financial influencers, are a new generation of online individuals who create content and provide financial advice to help their followers make informed investment decisions and interpret industry jargon. The use of social media, which has the potential to spread misinformation and is littered with clickbait, to explain such consequential life decisions is highly controversial. At the same time, it provides free, digestible and useful information to individuals who may not otherwise have access. Are finfluencers revolutionizing the financial sector by bringing access and education to the masses or are they contributing to the spread of misinformation online?