Nine in ten social media posts offering low quality financial guidance

Financial guidance shared by ‘finfluencers’ on popular social media platforms is generally low quality, despite being widely used by UK adults, according to new research released by Queen Mary University of London, supported by Aberdeen Group Charitable Trust.

The research analysed nearly 2,500 finfluencers on Instagram, TikTok and YouTube, alongside a survey of more than 4,200 adults across the UK. Almost all of the posts examined were from independent content creators rather than trusted sources (such as Money and Pensions Service or the Financial Conduct Authority). It found that nearly nine in ten social media posts containing financial guidance showed more negative than positive quality features, raising concerns about the reliability of information reaching millions of users.

Researchers assessed 1,000 posts from each platform (Instagram, TikTok and YouTube). Only 8–9% of posts stated the creator’s relevant expertise, while just 12–13% included disclosures or disclaimers. Overall, almost 90% of posts contained more negative features than positive ones*.

Two in five survey respondents reported using social media as a source of financial guidance, citing its relatability, breadth of information and ease of access. Around one in three (31%) said they had tried guidance found on social media in the past year, such as applying a financial tip or making a related decision.

Among those who acted on social media guidance, 70% reported mostly positive outcomes, 27% experienced mixed results, and 3% reported mostly negative outcomes. Experiences depended heavily on whether the guidance suited individual circumstances and how it was applied.

Most users recognise the limits of financial guidance on social media. Common concerns cited included untrustworthy information, a lack of financial qualifications among creators, and bias. Almost all respondents (94%) said they verify information they see, though many relied on weak checks such as reading comments. Fewer respondents checked the credibility of the source (58%) or compared information with reputable websites (49%).

The majority of users also said they were often shown financial guidance content without actively searching for it, and two-thirds considered this unsolicited guidance mostly or completely irrelevant.

The quality of financial guidance varied significantly by platform. YouTube posts consistently included more positive quality features than content on Instagram or TikTok. Nearly one in five YouTube posts stated the creator’s expertise, compared with just 2.2% on Instagram and 3.9% on TikTok.

These differences were not solely due to longer video formats. Even YouTube Shorts – short videos comparable in length to TikTok and Instagram content – contained more positive quality indicators than posts on the other platforms. Posts created by accounts with larger followings also tended to score higher on quality measures.

The research highlights widespread confusion about consumer protections. More than half of respondents were unaware of the legal distinction between “financial guidance” and ” regulated ‘financial advice’, and four in ten were surprised that most financial guidance on social media falls outside existing regulation.

Around half of respondents believe responsibility for tackling misleading financial guidance should lie primarily with authorities or social media platforms, rather than individuals.

Kristina Church, Chair of the Aberdeen Group Charitable Trust and Group Head of Sustainability at Aberdeen Group, said “The Financial Conduct Authority has been clear about its concerns over poor‑quality financial information from finfluencers, and has stepped up its presence on social media to help protect consumers. The Advertising Standards Authority has also shown that influencer engagement can be effective when it is done well, demonstrating that social media, used responsibly, can be a powerful way to help people engage with money and manage their finances.

But responsibility can’t sit with regulators alone. This research shows platforms have a vital role in making sure financial content shared online meets basic standards and to limit the spread of misleading content. With money tips appearing in feeds every day, improving financial literacy is essential, so people can judge information confidently and make informed decisions about their financial futures.”

Eileen Tipoe, report author, from Queen Mary University of London, said “There is some great content out there from ‘finfluencers’, however, our findings show a clear gap between how influential financial guidance on social media has become, and the level of oversight that currently applies to it. While social media can improve access to information, the lack of consistent standards by the platform providers and disclosures means many users are exposed to guidance that would not meet basic quality expectations in other settings.”