finfluencers

Financial planning

Under-35s trust social media over professional advice

Australians aged 18–34 years old are demonstrating a higher degree of trust in social media-sourced advice over professional financial advisers, according to ASFA....

Financial planning

‘ASX Wolf’ finfluencer hit with bankruptcy orders

ASIC has successfully obtained orders to bankrupt finfluencer Tyson Scholz for his failure to pay Federal Court costs of more than $450,000....

Financial planning

Finfluencer usage drops on back of ASIC crackdown

Good news for financial advisers, the number of people turning to social media and finfluencers has decreased by almost a third in the past year, according to HSBC....

Financial planning

First finfluencer sentenced for market manipulation

The first person to be convicted of a ‘pump and dump’ scheme has been sentenced and fined after pleading guilty to charges of share manipulation and illegal dissemination...

Financial planning

Why this licensee CEO won’t discount the role of finfluencers

Although finfluencers tend to “swim outside the safety flags”, Insignia chief executive Renato Mota believes they signal an unmet demand from a younger generation seekin...

Policy & Regulation

What could the future look like for finfluencers?

With finfluencer Tyson Scholz receiving a permanent injunction, a global regulatory report, co-chaired by ASIC, has shed light on what the future could look like for finf...

Policy & Regulation

Finfluencer banned by Federal Court

The Federal Court has issued a permanent injunction against finfluencer, Tyson Scholz, to prohibit him from carrying on a financial services business....

Financial planning

Should advisers and finfluencers have the same regulation?

The Advisers Association says it is “extremely unfair” that well-qualified, experienced, professional advisers have to go through more hoops than finfluencers to provide ...

Funds management

Where are new investors seeking guidance?

Women are 20% more likely than men to trust financial advice from family and friends, according to research by Global Prime, while young men are more likely to be followi...

Financial planning

ASIC clamps down on use of finfluencers

The Australian Securities and Investments Commission has warned Australian financial services licensees that they could be liable for misconduct if they work with financi...

Financial planning

Hume wrong not to regulate finfluencers: SAFAA

The Government should be regulating finfluencers and they are not the same as getting advice from a taxi driver or guy “at the pub”, according to the Stockbrokers and Fin...

Financial planning

Finfluencers not to be banned: Hume

Jane Hume said she has no interest in perpetuating a ‘nanny state culture’ where it resorts to banning things to save people from their own follies such as making financi...

Features

InFocus: Is TikTok advice any better than ‘the man down the pub’?

While finfluencers are on the rise and targeting younger investors, this presents an opportunity for advisers to help investors separate the information from the noise, w...

Financial planning

AFSLs paying finfluencers questioned by ASIC

The corporate regulator is reviewing select finfluencers to understand their business models and how the financial services laws apply to their activity....

Financial planning

Wealth coaches and 'finfluencers' next bubble to burst

Any wrongdoing by advice providers working outside the licencing regime will see financial planners bear the brunt of their actions, according to an association....