Likes, stocks and shares: Influence of TikTok over younger investors grows

Financial websites' influence wanes

The use of social media to inform investment decisions among young people has almost overtaken the use of financial companies’ websites.

According to research from Hargreaves Lansdown, the use of Reddit for investment ideas among 18–34-year-olds has jumped from 17% in 2021 to 26%, and reliance on TikTok as a financial information source has increased from 12% to 20%. Meanwhile, gen Z and young millennials have simultaneously reduced their exposure to websites of financial companies when looking for information on stocks, bonds and funds. In 2021, 43% of 18–34-year-olds surveyed used financial websites, a number that sits at 29% three years later. Court date set in FCA 'Finfluencers' trial HL's head of money and mark...