Beware of the finfluencer

Friends With Money

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10M ago 8:01

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Did you know many Australians get their investment advice from social media finfluencers? It's a frightening fact.

A recent ASIC (Australian Securities & Investment Commission) conference determined that most of those giving financial advice online are both unqualified and unlicensed.

This week on the Friends With Money podcast, Money's Michelle Baltazar chats with Rhys Bollen, Senior executive leader of ASIC’s market supervision team, about the potential dangers of getting investment advice from social media.

What is ASIC?
What influence does social media have on investors?
How can you protect yourself?

Links:

Moneysmart.com.au

ASIC Website

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