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(Bloomberg Opinion) — Social media's next victim could be the 401(k). Finance influencers — or "finfluencers" — are becoming a hot new thing on social media sites like TikTok and Instagram. This may be the next big content moderation headache for the industry.
People who can translate the strange, technical language of finance and investing into something that is accessible and entertaining are bound to be applauded and well rewarded. It's really hard to do. Betterment, a U.S.-based advisory firm that targets young and inexperienced investors, signed up a 25-year-old Tennesseean TikToker with nearly half a million followers because he could do it, Bloomberg reports.
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