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Our Co-Founder Sumit Duseja’s views on financial influencers have been quoted in the article by The Ken.
Finfluencers have done a marvellous job of creating awareness about various aspects of finances in our country where financial literacy is very poor.
However, the motive to educate has spilt over to the motive to earn hefty fees/commissions and ride the popularity bandwagon to gain more followers by promoting products like stocks, cryptos, IPOs, etc. which may or may not turn out to be prudent investments.
Never forget – the one who pays the piper, calls the tune. If you are not paying for the advice, you are the product.
Content from influencers is good till it’s restricted to education but it turns bad when it becomes a promotional video paid for by the product manufacturers with no accountability and responsibility.
I believe some regulatory framework should be in place to ensure proper disclosures and some degree of accountability.
After all, with great power (to influence), comes great responsibility.
Truemind Capital is a SEBI Registered Investment Management & Personal Finance Advisory platform. You can write to us at connect@truemindcapital.com or call us at 9999505324.
