Financial influencers can make a very good living

It’s not just in the beauty, clothing, sports or tech industry that influencers make it rain and shine. In the seemingly opaque world of finance, there are more and more influencers, and some of them are earning a very good living.

Like other sectors, finance also has its own influencers who, on social networks (TikTok in particular), provide advice to thousands of subscribers. Advice on investments or investments, good shots for investing, they also have the particularity of deciphering and explaining sometimes complex concepts to a novice audience.

Beware of scams

And it pays off. Some financial influencers sometimes earn more than Wall Street bankers! This is the case of Austin Hankwitz who, at 25, earns $ 500,000 per year. Part of his half a million subscribers on TikTok have subscribed to his Patreon who, for a few dollars a month, receive personalized advice.

And like influencers in other sectors, Hankwitz works with brands and companies eager to promote their products, sponsorships that pay big: since March 2020, he has accumulated $ 1.3 million in equity through this activity. . These promotional videos are marked as such, there are no scams as to their nature: this is an advertisement.

TikTok must have cracked down recently, because the crooks quickly saw the good deal: fake influencers began to proliferate on the social network, touting cryptocurrencies or bogus investments. The platform now sanctions content creators who do not clearly indicate that the video is a partnership. Budding investors should therefore take this advice with caution to avoid unpleasant surprises: promises announcing huge gains in a few days are generally scams …

Leave a Comment