Media Center

Our President Giuliano Palumbo, CFA, discusses the "finfluencers" trends and perils

12 April 2024

The phenomenon of “finfluencers”, already widespread in America, is now taking Europe by storm. With 48% of young investors using social media as their primary source of financial information, finfluencers are becoming increasingly influential! However, with the rapid rise of online investment advice, the risk of misinformation and fraud is emerging. As highlighted by Giuliano Palumbo, CFA, President of CFA Society Italy, during an interview with La Repubblica Affari&Finanza,

“Misinformation and hidden marketing are just some of the risks for savers.”

It is essential to carefully evaluate information sources and make thoughtful decisions.

Limited financial knowledge, minimal interaction with regulated financial advisors, and a preference for obtaining information through digital platforms are driving Generation Z youth to engage with the content of financial influencers, or so-called finfluencers. These are some of the findings from the new report by CFA Institute, "The Finfluencer Appeal: Investing in the Age of Social Media" - which delves into the growing influence of finfluencers on the decisions of young investors – and provided the basis for the interview with La Repubblica Affari&Finanza, which can be found here
Several Italian media outlet already discussed the matter, as previously reported.