First Merchants Bank - Click, like, and ignore: One third of young Americans seeking financial advice from unregulated celebrities and online influencers
Potential conflicts of interest – Celebrities and influencers often endorse products or services as part of their brand partnerships.
- Potential conflicts of interest – Celebrities and influencers often endorse products or services as part of their brand partnerships.
- Varied financial backgrounds - Celebrities or influencers have unique financial situations that may not apply to the public.
- Limited accountability - Unlike regulated financial professionals, influencers may not be held accountable for the outcomes of their advice.
- Financial advice from celebrities or influencers may be geared towards capturing attention rather than providing comprehensive and accurate guidance.