Bloggers give bad advice, yet their audience remains satisfied: a study found that 90 % of recommendations are deemed erroneous.

Brief research summary

What was studiedHow it was conductedKey findingsFinancial advice on social mediaAnalysis of 2,500 posts (Instagram, TikTok, YouTube) + survey of 4,200 adult BritonsLow‑quality advice, but most users report a positive experience

1. Why people turn to financial influencers
- Nearly 40 % of respondents use social media as a source of financial recommendations – almost as many as those who consult family and friends.
- Comparison: 23 % look for advice from AI, while only 9 % seek professionals.

2. Content quality
MetricResultPost quality ~90 % contain more “negative” characteristics: doubts about competence, questions of credibility, and links to alternatives.
Types of errorsMost common are cryptocurrencies, promises of quick riches, and fake celebrity‑endorsed ad campaigns.

3. User assessment
- 31 % followed advice from social media and rated the experience positively.
- 70 % reported predominantly good results.
- 27 % had mixed outcomes.
- 3 % were mostly negative (data based on perception, not verified figures).
- Budgeting and saving → more positive reviews.
- Investing in stocks/cryptocurrency → frequent negative consequences.

4. What other researchers say
- Scientists from Newcastle and Birmingham confirmed that TikTok financial influencer content is skewed toward high‑risk topics (crypto, FOREX).
- Despite the spread of financial information, risk remains high.

5. Regulatory recommendations
1. Platform responsibility – active monitoring and combating misleading information.
2. Creator transparency – disclosure of qualifications, experience, and conflicts of interest.
3. Links to official sources – mandatory inclusion in every finance‑related post.

6. Regulator actions
- The FCA has already opened a criminal case against two financial influencers for illegal advertising.
- The regulator issued dozens of warnings about unauthorised firms and private individuals.
- About 120 account removal requests for violating content were sent to social media platforms.

Conclusion
Financial influencer advice in the UK is often considered “low quality,” yet most users still derive positive experience, especially regarding budgeting and saving. However, risky topics (cryptocurrencies, quick investments) lead to negative outcomes, underscoring the need for stricter regulation and transparency on social media.