The rise of finfluencers: should you trust money advice on social media?
Theo Delvaux, Marie-Catherine Motingea and Yann Grutzmacher (Left to right) Montage: Paperjam
Finfluencers have turned money advice into viral content and become the main financial educators for millions of young investors. Their influence is undeniable, but so are the risks. As investing becomes more accessible, the real challenge is learning to separate guidance from hype.
You have certainly heard of influencers, but a new and fast growing group has entered the stage: the finfluencers. Even if the term is unfamiliar, you have likely come across their content. Some appear in sponsored posts promoting, often fishy, courses or guides, while others share simple explanations about budgeting, saving or investing. Their styles vary, but their impact is unmistakable. They have pushed financial topics into everyday conversation and made them more accessible to an audience that was often left out.
And their arrival could not have come at a more decisive moment. Since the pandemic, a whole wave of new investors has entered the market, with young adults making up a large part of this movement. And the first guides many of them meet online are the finfluencers who dominate their feeds.
The sources of new investors
Besides well-experienced finance professionals, a new audience has delved into the world of investing. With apps and websites that allow users to enter the investing space and purchase assets with only a few clicks, a large number of retail investors has emerged.
This progression has occurred alongside increased media exposure, not only through traditional news sources such as newspapers and television, but also through social media. Many newspapers include a financial section, and certain TV channels even center their entire programming on financial topics; most notably the Financial Times for print and CNBC for television. Social platforms have been especially influential for younger demographics, with Twitter, Discord and even Telegram becoming popular hubs. Larger platforms such as TikTok, Instagram and Facebook also host extensive finance-related content. Professionals have used these channels to spread their knowledge to wide audiences, particularly younger ones.
The impact of media has been evident in several cases. Telegram, for example has served as a gathering place where retail investors coordinate attention around so-called “meme stocks,” sending prices sharply higher through viral trends. This has, at times, forced short sellers to unwind their positions at significant losses, a dynamic famously observed during the GameStop short squeeze.
Cryptocurrency has been a major beneficiary of this environment as well, with an enormous amount of content dedicated to blockchain and digital assets. A notable example is Elon Musk’s tweet about a Shiba-Inu dog, which triggered a surge of enthusiasm for the meme-based cryptocurrency Dogecoin. This illustrates how a single viral moment can influence markets with little connection to fundamental value.
However, this easy access to content has brought downsides. Information is no longer produced solely by well-intentioned experts; it is also used to spread misinformation, push personal agendas or even facilitate scams. This risk is heightened by how quickly content circulates and how little verification many viewers perform with a less experienced audience often becoming a victim.
But what are finfluencers?
Finfluencers are the new teachers of the finance world. Their mission? To prove that money doesn’t have to be mysterious, boring, or reserved for people who speak in numbers. They break things down and explain everything from crypto and stocks to investment funds and savings tips, often in less than 60 seconds.
What’s fun is that finfluencers come in all shapes and backgrounds. Some are legit pros with CFA certifications, others are ambitious students, and some are self-taught enthusiasts who simply love talking about money as much as others love talking about astrology or skincare. You’ll find them everywhere TikTok, Instagram, YouTube,… basically any platform where you can scroll endlessly.
Appealing but dangerous
Financial advice has become part of everyday life on social media. Many young people feel more comfortable listening to someone who talks like them than reading a formal document from a bank. It feels personal, direct and easier to trust.
Their strength lies in how accessible they make finance. Complex ideas are reduced to short videos that fit naturally into the way younger audiences consume information. Bold statements, like a promise to get rich in 30 days or the new big stock travel faster than cautious explanations. That is how algorithms work and finfluencers know it.
This environment brings real dangers. The simplicity that makes these videos engaging can hide important details. Some earn money from affiliate links or sponsorships that are not clearly disclosed. Followers often do not realise that not every content creator has the best intention for the viewers.
The most harmful cases are the pump and dump schemes. A creator promotes a small stock or cryptocurrency, creating excitement and pushing up the price. When enough followers buy in, the promoter sells their own position at a profit. The price then collapses and the people who trusted the recommendation are left with losses. Social media makes this kind of scheme easy to spread and hard to recognise in time, especially for beginners.
A sociological perspective
The rise of finfluencers also reflects how younger generations build trust today. Social media is the place where they learn, exchange ideas and find communities. Advice from someone who seems relatable often feels more sincere than long and complex guidance from official institutions. Trust is built through people, moments and conversations rather than through formal structures.
This dynamic takes place during a period of economic uncertainty. Many young adults are facing high living costs, uncertain careers and difficulty reaching milestones such as buying their own home. Finfluencers give clear and confident messages, they say that you can start small, that you can take control of your financial situation, and that learning is not as difficult as it seems and that everybody can do it. It resonates.
But this closeness also creates vulnerabilities. Influencers often speak in a friendly and personal tone, which lowers critical barriers. Algorithms amplify the most shared or enthusiastic content, creating a sense that everyone is doing the same thing. When thousands of comments say they bought a certain stock or coin, it becomes difficult to step back and judge objectively. Choosing a stock becomes like choosing a restaurant, you trust opinions from other people.
The good side
Despite these issues, finfluencers have opened the door for many people who previously felt excluded from finance. They simplify topics that used to feel inaccessible. They normalise conversations about money, something that was often seen as uncomfortable or even impolite. For many young people, a short online explanation is the starting point for learning more and becoming more confident about their finances.
Even imperfect advice can spark curiosity. It can motivate someone to read further, to ask questions or to take their financial future more seriously. In this sense, finfluencers have made financial education more visible and more widely discussed.
The evolution in Luxembourg
Luxembourg is part of this same evolution. More institutions are adapting their communication to younger audiences. Spuerkeess now runs a financial literacy podcast. The CSSF uses Instagram to explain basic financial topics in a calm and simple way. They recognise that education must meet people where they already are.
At Goldbridge Investment Club, we try to contribute to this landscape as well. With articles like the one you are reading, our goal is to explain financial topics in a clear and understandable manner. On our website we provide more detailed articles for those who want to explore further. We organise events, webinars and share content on social media to make finance feel less distant.
Since we started this initiative, we realised something important. The first investment is often the hardest one. It requires courage. You risk money that you worked for and a bad first experience can stay with you for years. This is why education is essential. Our aim is not to push anyone into investing, but to prepare people so they can make informed choices and understand the potential risks as well as the opportunities.
We have also learned that trust is just as important as knowledge. Before someone takes advice from you, they want to feel that you are sincere and that you genuinely want to help them make better decisions. Trust cannot be forced. It grows slowly, through consistency, honesty and a real intention to inform rather than to impress.
This is the mission we have set for ourselves at Goldbridge. We want to make finance understandable, to create a space where people feel comfortable asking questions and to support them as they take their first steps.
“Confidence often travels faster than accuracy”
The real question now is: in a world where anyone can teach finance, who will we decide to trust? Finfluencers have changed how financial knowledge spreads. They make money talk feel approachable, they energise younger audiences and they have pushed institutions to communicate more clearly. But their rise also exposes the limits of learning in 60-second clips, where confidence often travels faster than accuracy.
For new investors, the task is to recognise when enthusiasm hides risk and to learn to tell the difference between education and scams. Social media can be a powerful starting point, yet it should never be the final destination.
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