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Personal Finance TikTokers Are Misleading Users, and the Problem Is Worse Than You Think

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Personal Finance TikTokers Are Misleading Users, and the Problem Is Worse Than You Think

“StockTok” is inspiring young people to learn about investing… but what happens when the content is rotten?

Entrepreneur,

5 min read
3 take-aways
Audio & text

What's inside?

Would you take investing advice from a video-sharing social media app?


Editorial Rating

8

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  • Applicable
  • Concrete Examples
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Recommendation

As a content marketing guru and the founder of Hefty Media Group, Nick Wolny knows good content. He also knows when content creators are cashing in on a trend despite their lack of experience in the subject at hand. Through this lens, he warns that much of the investment advice he finds on TikTok is problematic. In his entrepreneur.com article, Wolny cautions the new generation of investors who are looking to social media for personal finance advice, offering tips on how to recognize the charlatans.

Summary

TikTok’s financial advice ecosystem “StockTok” often spreads misleading investment information.

More and more people, especially adolescents and young adults, are turning to social media platforms for personal investment advice. The video-sharing social networking service TikTok is one of those, with 69% of its users ranging between the ages 13 and 24.

Content creators are attempting to cash in on the trend by making videos about personal finance, creating an investment advice ecosystem that has been dubbed StockTok. However, TikTok isn’t designed to offer investment advice, and financial advice influencers have been known to use the platform to spread misinformation.

The cryptocurrency company Paxful...

About the Author

Nick Wolny is the founder and consultant for Hefty Media Group, and a contributing writer for the Entrepreneur Leadership Network.


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