In recent years, thanks in part to the rise of social media, a new figure has emerged: the finfluencer — an influencer who talks about investments, saving, and personal finance.
Short videos, eye-catching graphics, and informal language help make traditionally complex concepts more accessible, strongly appealing especially to younger segments of the population.
But there’s a problem: many of those presenting themselves as financial reference points are not authorized to provide advice.
Who (really) are the finfluencers ?
In most cases, they are individuals with some personal experience in investing or with strong communication skills.
Some hold degrees in economics, while others are simply passionate about the subject.
But in most cases, they are not registered with professional associations nor subject to oversight by the competent authorities, such as the OCF (Supervisory Body for the Register of Financial Advisors) or Consob.
This represents a significant issue for all savers, as discussing financial matters is not comparable to talking about fashion or cooking.
Economic choices have a concrete and lasting impact on people’s lives, and poor advice — especially when accepted without proper critical analysis — can lead to potentially harmful consequences for one’s wealth.
The main risks
Blindly following the advice of an online finfluencer, without the necessary caution and without a solid understanding of financial instruments, can expose you to various risks:
- Irrelevant and non-personalized advice:
Suggestions provided through social channels are, by nature, generic and standardized. They do not take into account individual financial situations, specific goals, time horizons, or the risk profile of each investor. An investment that worked for someone else might not be suitable for you. - Overexposure to risky instruments:
Many finfluencers promote highly volatile products, such as cryptocurrencies, leveraging the appeal of quick and easy profits in a short time, yet they often fail to provide a thorough explanation of how these instruments work or the risks involved. - Undisclosed conflicts of interest:
Trust is the foundation of the relationship with a professional financial advisor. However, in the case of “finfluencers,” it is not always clear whether the content they publish results from sponsorships or indirect payments by platforms or industry operators. - Lack of legal responsibility:
Finfluencers who are not registered with any professional body are not legally accountable for the advice they provide, leaving investors unprotected in case of losses, poor investments, or other errors. - “Herd effect” and impulsive decisions:
Social media communication amplifies mass dynamics, often pushing investors toward rushed financial decisions driven by collective enthusiasm for quick and easy profits, without a real understanding of the instruments and without careful evaluation of their own risk profile.
The value of financial advice
Financial advice — the real one — is based on a thorough analysis of your financial situation, your life goals, and your risk profile.
Only in this way is it possible to build a tailored, sustainable path over time, capable of protecting and growing your wealth.
That is why it is essential to turn to a competent and certified financial advisor. A professional registered with the official body is required to keep their knowledge up to date, act solely in your interest, and comply with strict regulations designed to protect the investor.
And, above all, a solid relationship of trust must be established between the financial advisor and the client, built over time through continuous dialogue, where doubts and uncertainties can be shared and strategies reviewed together according to changes in life and the market.
We at Team Paperetti, financial advisors with solid experience, regularly registered in the Official Register of Financial Advisors and holding recognized certifications, always recommend relying on qualified professionals to best protect your assets and build a solid and informed financial future.