Previously published on December 14, 2023 in
By Samuel O’Brient, Reporter at InvestorPlace
The best credit cards to buy for rewards points. Tips to build passive income by buying vending machines and car washes. Strategies for paying off debt – some more convoluted than others. If you’ve spent long enough scrolling on TikTok, you’ve surely found yourself in the corner of the app known as FinTok, where influencers and scammers alike thrive on sharing financial advice.
Eric Hazard, CEO of financial communications agency Vested Ventures, stresses the importance of evaluating a TikTok commentator’s financial experience and how easy it is to find. He also highlights the importance of content creators providing disclaimers when discussing investments. A lack of transparency from creators should alert investors to potential scams.
“A credible FinTok influencer should base their advice on sound investment principles and data-driven insights rather than speculative or high-risk strategies,” Hazard told InvestorPlace. “They should encourage practices like diversification, long-term investing, and thorough research, which are hallmarks of prudent financial management.”