SHOULD YOU TAKE FINANCIAL ADVICE FROM A OX FINFLUENCER?

Social media stars can make finance fun and deliver helpful info. But be careful about who you trust.

- KIM CLARK

ARE you wondering how to rebuild a car engine, make lasagna, apply eyeliner or build a castle in Mine­ craft? Millions of Americans get their answers from “influencers” on social media. And now a growing crowd of “finfluencers”—a port­ manteau of the phrase “financial influencers”—are vying to become your investing gurus.

Search “investing” or a related term on Instagram, TikTok, YouTube or any other major social media plat­ form, and you’ll get thousands of posts from a dizzying array of cre­ ators. You’ll see videos of investors flaunting wads of cash, driving Lam­ borghinis or flashing screenshots purportedly showing big profits from options trading, cryptocurrencies or “passive income” investing strategies. You’ll also see investing basics dem­ onstrated with card tricks, comedy skits or dance celebrations. There are posts from finance professionals and amateur investors, twentysomethings and sixtysomethings, and members of all types of affinity groups. And, of course, you’ll also find posts from media outlets like Kiplinger.