Finfluencers' social media investment tips soar in popularity, but regulators warn of risks and lack of qualifications.

Financial advice on social media, given by influencers known as "fin-fluencers," is gaining popularity, especially among new investors. However, regulators warn that this advice can be risky and often lacks proper qualifications or disclaimers. The SEC and Britain's Financial Conduct Authority have taken action against influencers for improper advice and undisclosed compensation, urging consumers to be cautious about making investment decisions based on social media guidance.

2 months ago
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