Alarm as Gen Z turns to 'finfluencers' for money advice

Gen Z puts trust in AI for financial advice. ASIC says don’t

Gen Z’s use of, and trust in, social media and AI to deliver financial advice has the corporate regulator worried.

Alarm as Gen Z turns to 'finfluencers' for money advice

Social media is fuelling riskier financial investments with nearly two out of three young people turning to platforms for advice on their money.

Australia warns on AI and finfluencers as Gen Z owns 23% of crypto

Australia’s financial regulator has published findings from a Gen Z money mindset study, highlighting how social media and artificial intelligence are shaping young investors’ approaches to money. The Australian Securities and Investments Commission (ASIC) released the results of a survey conducted between Nov. 28 and Dec. 10 last year, involving 1,127 respondents aged 18–28. The study shows that roughly one in four Gen Z individuals in Australi…

ASIC has Warned Against Listening to Finfluencers and AI Financial advice

Australia's corporate watchdog has warned against listening to "finfluencers" and AI financial advice, with one in four Gen Z investing in crypto.

The relentless rise of unregulated finfluencers

Accessing financial advice used to be out of reach for many. But now, it’s on your commute, at the bus stop, and most dangerously, in your pocket. Get out your phone, open any social media app, and you’ll see a young man or woman, backlit by a ring light holding a pocket microphone, promising to show you how to make your money soar. They may be wearing a crisp button down and have a screen showing their investment portfolio behind them, while ma…