How tech stacks can help shape fair and impartial finfluencer landscape
stock market.
The immense influence that finfluencers have over the masses can play a positive role in spreading financial awareness and literacy. Through their engaging content, most finfluencers are seen encouraging people to save more, invest wisely, diversify their portfolios, and achieve their financial goals. They also demystify complex financial concepts and jargon, making them accessible and relatable to the common man.
However, just like the two sides of a coin, the finfluencer landscape also has another aspect to it.
The Challenges and Risks of Finfluencer Content
Despite all the insightful bytes they may share with their loyal followers, finfluencers are not without their drawbacks and limitations. One of the major challenges is the lack of regulation and accountability in the finfluencer space. Unlike registered investment advisers or financial planners, finfluencers do not need any formal qualifications or certifications to offer financial advice.
They are also not bound by any ethical or legal standards or obligations to disclose any conflicts of interest or biases.
This can lead to several problems such as misinformation, manipulation, fraud, and bias in their content. For instance, some finfluencers may have vested interests in promoting certain stocks or products that they own or are affiliated with. They may also receive commissions or incentives from companies or platforms that they endorse or collaborate with.
