‘Finfluencers’ may pose risks to investors

Financial influencers do not need a licence as they are seen as only sharing views or opinions on financial issues and not dishing out actual advice, unlike financial advisers who need a licence. Being unlicensed means they are not bound by Monetary Authority of Singapore regulations. — Bloomberg

SINGAPORE: The growing popularity of financial influencers or finfluencers has raised concerns about the risks they may pose to consumers who follow them for advice.

Most of these influencers share their knowledge, experience and views on social media platforms like TikTok, Instagram, Facebook and YouTube, while some also blog about investments.