TikTok, the most downloaded app of 2021, may be best known for dance routines and weird recipes. But posts by so-called"finfluencers" – financial influencers – have proved an unexpected hit.
Filmed in her living room in Sydney, her videos range from simple explainers of investment vehicles to the money lessons you can learn from hit Netflix seriesLike many finfluencers, Tan's posts have an aspirational quality: she already holds assets worth some US$400,000 . She encourages viewers to invest young, like her, to build more wealth over a lifetime.
Like Tan, his videos are popular among youngsters who prefer getting investment ideas from people their own age, with an innate understanding of how to communicate well on platforms like TikTok. The trend towards financial self-education is helping to bust stereotypes. Tan thinks it's"awesome" that so many people are"feeling empowered to start investing".
Critics further charge that many finfluencers make more money from sponsorship deals than they do from investments, meaning the less scrupulous may promote dubious financial products.