{"id":13784,"date":"2024-11-02T10:09:58","date_gmt":"2024-11-02T10:09:58","guid":{"rendered":"https:\/\/imsfund.com\/?p=13784"},"modified":"2024-11-02T10:09:58","modified_gmt":"2024-11-02T10:09:58","slug":"riskiest-social-media-platform-for-financial-advice-report","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2024\/11\/02\/riskiest-social-media-platform-for-financial-advice-report\/","title":{"rendered":"Riskiest Social Media Platform for Financial Advice: Report"},"content":{"rendered":"


\n<\/p>\n

\n

Nearly <\/b>80% of young adults<\/a> say they turn to social media for financial advice<\/a>. But perhaps they should find another source.<\/p>\n

A new report by Social Capital Markets<\/a> found that 71% of the financial advice consumed by Gen Z and Millennials is misleading, and only 13% of influencers had the relevant qualifications and credentials to advise on finance matters. This past summer in the U.K., for example, several social media influencers<\/a> were charged with promoting financial schemes to millions of followers.<\/p>\n

The study analyzed 2,470 TikTok, YouTube, and Instagram videos and relevant hashtags (#StockTok, #Investing, and #Stocktips), looking for “misleading” posts that have key items, including no disclaimer, encouraging viewers to invest in specific assets, and implying guaranteed returns.<\/p>\n

Related:<\/b> Here’s How Much an Influencer With 21 Million Followers Makes on YouTube, Facebook, and TikTok<\/a><\/p>\n

Of the videos analyzed, 83% lacked disclaimers and offered “a one-sided view of financial decisions,” per the report. Meanwhile, 57% of stock content implied guaranteed returns.<\/p>\n

\"\"Social Capital Markets<\/sup><\/i><\/p>\n

\n

TikTok, Instagram, and YouTube Had the Most Misleading Posts<\/h2>\n

According to the report, TikTok was named the No. 1 riskiest platform, with 91% of videos lacking disclaimers and 70% encouraging stock purchases.<\/p>\n

Instagram was found to be the second most problematic, with 88% of financial videos lacking disclaimers and 65% encouraging specific stock investments.<\/p>\n

YouTube came in as the third platform with the most misleading posts, noted for being “aggressive in pushing specific stock picks,” with 76% of posts failing to include a disclaimer and 75% promoting particular investments.<\/p>\n

Related:<\/b> How to Make TikTok Work for Your Business<\/a><\/p>\n

Why Was TikTok Deemed the Riskiest Platform for Financial Advice?<\/h2>\n<\/article>\n
\n

In addition to the high number of videos that lacked disclaimers and encouraged stock purchases, the TikTok videos analyzed also had a high percentage (65%) of content that implied guaranteed returns, while 50% encouraged viewers to invest a particular proportion of their income.<\/p>\n<\/article><\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nearly 80% of young adults say they turn to social media for financial advice. But perhaps they should find another source. A new report by Social Capital Markets found that 71% of the financial advice consumed by Gen Z and Millennials is misleading, and only 13% of influencers had the relevant qualifications and credentials to […]<\/p>\n","protected":false},"author":5,"featured_media":13785,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1730482883-Social-Media-2179840799.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-13784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/13784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=13784"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/13784\/revisions"}],"predecessor-version":[{"id":13786,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/13784\/revisions\/13786"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/13785"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=13784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=13784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=13784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}