13th May 2025

The profession responds to the rising power of financial influencers

Back in 2022, research revealed that 62% of 18–29-year-olds in the UK were turning to finfluencers - social media personalities offering financial advice - with 74% of those followers trusting the guidance they received. That influence translated into action, with many young people making real-world financial decisions based on what they saw online.

Fast forward to today, and the picture is becoming more complex. According to a recent Panacea survey, which was taken by 79 financial advisers, 62.5% have now had clients reference “finfluencer content” in discussions, either frequently (12.5%) or occasionally (50%) - proof that these digital voices are no longer just influencing young adults but are beginning to penetrate regulated advice conversations as well. 

While the majority still encounter this only sporadically, the trend is clear: social media advice is entering the client conversation more than ever before. One adviser noted, “Apart from ‘Martin Lewis says…’, I’m hearing more casual comments tied to what clients have seen online.”

What is clear from the survey results, is that the finfluencer phenomenon is no longer a fringe concern, it’s a growing force that the regulated advice profession can no longer afford to ignore.

Misinformation and Missteps

Half of the respondents (50%) believe finfluencers are having a negative impact by spreading misinformation and unrealistic expectations. Whilst 18.75% are unsure and only 12.5% see the trend as a positive force for improving financial literacy.

Perhaps unsurprisingly, 81.25% of advisers said they’ve had to correct or counteract poor or misleading advice that clients received from finfluencers.

The most common frustrations included oversimplified messages and headline-grabbing statements that lack vital context. As one adviser put it, “It’s not the advice itself, it’s the detail that’s missing - the client only remembers the headline.”

Strong Support for Regulation

The profession is virtually unanimous in its belief that regulation must catch up with this trend. A striking 62.5% believe stricter regulation is needed, while 31.25% support some additional oversight, albeit not too heavy-handed. Not a single respondent believed the current approach is sufficient.

Concerns voiced by advisers were consistent and widespread. When asked about the risks posed by finfluencers: 

• 93.75% flagged a lack of accountability for poor advice,
• 93.75% cited the promotion of unrealistic investment expectations,
• 68.75% pointed to the oversimplification of complex topics, and
• 62.5% highlighted the promotion of unregulated or risky products 

Engagement Is Limited - But Possible 

Despite growing concern about the influence of finfluencers, adviser engagement with this content remains low. Nearly 44% said they’ve never engaged with it, while 25% rarely do. Only 12.5% said they regularly follow such content - typically to stay informed about what clients are consuming online.

This low level of engagement is surprising, especially given the overwhelming support for tighter regulation and the widespread frustration with misleading advice. It suggests a potential gap between concern and action. 

By proactively engaging with finfluencer content, advisers may be better equipped to understand the narratives influencing their clients - and more effectively counteract misinformation with credible, regulated insight.  

There is a clear opportunity here for the profession to be more visible, more responsive, and more relevant in the digital spaces where younger audiences are already looking for guidance.

However, there is some openness to adopting similar platforms: while only 6.25% of advisers currently use social media to provide educational content, another 56.25% said they’re either considering it or would be open to doing so with guidance. This hints at a potential shift, if the right frameworks and training were made available.

A Potential Gateway for Young Talent?

The most surprising finding? Despite deep reservations, there is cautious optimism that finfluencers, if properly regulated, could help draw young people into the profession.  

Nearly two-thirds (62.5%) agreed finfluencers could be a “useful resource” in this respect, and another 18.75% said it could work if finfluencers partner with qualified professionals.

However, concerns remain. One adviser warned, “Regulated individuals are being manipulated by these people for clients - possibly breaching regulations.” There is clearly a fine line to walk between collaboration and compliance risk. 

Where Do We Go from Here?

This survey offers a snapshot of an industry at a crossroads. Finfluencers are already shaping how younger generations approach financial decisions, and their reach is growing rapidly. While the advice profession remains cautious, and rightly so, there’s increasing recognition that this trend is not going away.

Rather than resisting, advisers, regulators, and professional bodies need to engage more directly: advocating for proportionate regulation, educating the public about the importance of qualified advice, and even harnessing the power of social media to deliver sound, reliable, and regulated financial guidance. 

Failing to engage carries real risks. If the profession continues to overlook the finfluencer space, it leaves the door open for unqualified voices to dominate the conversation - potentially misleading consumers and undermining trust in financial planning. The gap between what clients are seeing online and what they hear from regulated professionals could widen further.

But there are also opportunities. By paying closer attention to what’s being shared by popular finfluencers - both the good and the bad - advisers can stay one step ahead. Understanding these messages enables them to counteract misinformation more effectively, address client concerns with greater context, and even participate in shaping public financial discourse.

Moreover, engaging in these digital conversations may help the profession connect with younger generations, both as clients and as future advisers. If done authentically and ethically, social media could become a platform not just for education, but for inspiration, attracting a new, diverse wave of talent into financial advice.

The future of financial advice may well include finfluencers. The question is not whether they will be part of the landscape, but whether the regulated advice profession will help shape that future, or watch it unfold from the sidelines.

Ones To Follow: 

1. Mark Tilbury

• TikTok: @marktilbury — 7.9 million
• Instagram: @marktilbury — 2 million
• Total: 9.9 million followers
• Content: Entrepreneurship, investing, and financial education

2. Gabriel Nussbaum (That Money Guy)

• TikTok: @gabriel.nussbaum — 1.3 million
• Instagram: @gabrielinussbaum — 155K
• Total: 1.455 million followers
• Content: Financial literacy, investing, and money management

3. Timothy Paul (Tempahtime)

• TikTok: @tempahtime — 592.9K
• Instagram: @_timpaul — 242K
• Total: 834.9K followers
• Content: Personal finance education, investing, and budgeting 

4. Cameron (CazzaTime)

• TikTok: @cazzatime — 435.6K
• Instagram: @cazza_time — 120K
• Total: 555.6K followers
• Content: Personal finance, investing, and money-saving strategies

5. Demi (SavingMoneyBish)

• TikTok: @savingmoneybish — 16.3K
• Instagram: @savingmoneybish — 222K
• Total: 238.3K followers
• Content: Personal finance tips, budgeting, and saving strategies

6. Ayo Noble (The Money Maestro)

• TikTok: @ayonoble_ — 15.8K
• Instagram: @ayonoble_ — 155K
• Total: 170.8K followers
• Content: Wealth building, inheritance planning, and tax strategies

7. Financielle

• TikTok: @financielle — 127.4K
• Instagram: @financielle — 42.6K
• Total: 170K followers
• Content: Budgeting, financial wellness, and money-saving tips

8. Megan (The Savvy Spender)

• TikTok: @thesavvyspenderofficial — 14.7K
• Instagram: @thesavvyspenderofficial — 109K
• Total: 123.7K followers
• Content: Budgeting, saving, and financial tips

Please note that follower counts are approximate and subject to change.

Sarah Paul

Chief Operating Officer

Panacea Adviser

Panacea Comment