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Personal Finance TikTokers Are Misleading Users, and the Problem Is Worse Than You Think
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Personal Finance TikTokers Are Misleading Users, and the Problem Is Worse Than You Think

“StockTok” is inspiring young people to learn about investing… but what happens when the content is rotten?

Nick Wolny
Entrepreneur, 2021
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Recommendation

As a content marketing guru and the founder of Hefty Media Group, Nick Wolny knows good content. He also knows when content creators are cashing in on a trend despite their lack of experience in the subject at hand. Through this lens, he warns that much of the investment advice he finds on TikTok is problematic. In his entrepreneur.com article, Wolny cautions the new generation of investors who are looking to social media for personal finance advice, offering tips on how to recognize the charlatans.

Take-Aways

  • TikTok’s financial advice ecosystem “StockTok” often spreads misleading investment information.
  • Misguided financial advice isn’t only harmful to investors but can also have legal consequences for influencers.
  • When assessing an influencer’s advice, consider their history, instead of follower count, as an indication of credibility.

About the Author

Nick Wolny is the founder and consultant for Hefty Media Group, and a contributing writer for the Entrepreneur Leadership Network.

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