In recent years, social media has become a powerful platform for sharing information. A way to discover new products and lifestyle hacks, everything from gaming to fitness, meal prep, or even finance can be the niche of an online influencer. In today’s digital age, especially post-pandemic, there has been a rising group of “finfluencers” – influencers who are focused on finance. Many are turning to these online personalities for guidance on investing.

While they can seem knowledgeable, it’s important to recognize that their advice is often unregulated, which can expose investors to unnecessary risks and misinformation. Knowing how to assess the credibility of these influencers is important for making informed decisions.

You can learn more about Finfluencers and the risks involved on CIRO's website, and watch an educational video about this type of fraud. 

Disponible en Français: Les finfluenceurs et les placements | Organisme canadien de réglementation des investissements (ocri.ca)