[Bigiron]

Commentary: More are turning to unregulated 'finfluencers' for financial advice, but is that a bad thing?
https://tdy.sg/3PpA8ft

[maxsanic]

Commentary: More are turning to unregulated 'finfluencers' for financial advice, but is that a bad thing?
https://tdy.sg/3PpA8ft

The problem has to do with mindset. Generally most average or lower net worth people don't see the value in intangibles like professional advice, yet this group is also usually the group that is most in need of it.

For most of them it's ok to spend a few hundred bucks in a fine dinning restaurant or burn a few thousand dollars on a low end branded bag, but ask them to pay $500 - $1,000 for a real financial planner they will claim it's expensive just for a "talk cock sing song" session.

The insurance brokers and influencers are all banking on this out of sight out of mind expense mindset i.e. the bulk of their money comes from behind the scenes fees and commissions so they all appear "free" at first sight.