Finfluencers and algorithms are changing the face of financial advice. But behind all this scrolling and swiping, who ensures integrity and reliability?
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People are learning all kinds of new things on TikTok: how to do viral dances to popular songs, how to make hot cocoa bombs or paint an accent wall. They are also learning dubious financial information from unverified sources with millions of followers.
Personal finance TikTok, also known as #FinTok or #StockTok, has become a massively popular segment of the app that, at its best, is made up of experts who make videos discussing how to get out of credit card debt, explaining the difference between a Roth IRA and a 401(k), and encouraging young people to start investing for retirement.