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financial influencer

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Financial influencers (also known as 'finfluencers') discuss financial products and services online through their social media platforms or website. Influencers often make money and receive 'kick backs' by promoting specific financial information or products.

There may be times where influencers provide financial advice, for which they need an Australian Financial Services License (AFSL). As many don't hold an AFSL, they are not legally qualified to recommend financial products. You may not have any recourse if things go wrong or if you receive poor advice by following an unlicensed provider.

If you are investing your hard-earned money, it is important to ensure you do your own research or talk to a licensed adviser