Gen Z is looking to social media influencers for financial advice. A new survey from Sooth found that 62% of this gen (11-26-years-old) is more likely to follow in the financial steps of their favorite online influencers or celebrities than take advice from financial service professionals. Specifically, young women are looking up to high-profile influencers when making financial decisions, and according to the founder and CEO of Sooth they are seeking “lifestyles they can emulate.” YPulse’s Fintech report data shows that over a quarter of Gen Z trust both YouTube (28%) and TikTok (26%) to give them good financial advice. (The Messenger)
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