Finfluencers, FOMO and Your Money: A Friendly Word from the School Gates

Standing at the school pick-up in Blackheath recently, I found myself scrolling through Facebook — a few local pages, a couple of family updates, and then a slick video promising to “double your money in six months.” It looked polished and persuasive. I get the appeal — who wouldn’t want an easy route to better returns? But I also felt that familiar flicker of concern.

More and more people mention seeing similar posts shared by friends or local groups. They often sound harmless, but a quick “like” or “click” can lead somewhere very different. So, if you’ve spotted one lately, here’s a friendly word of caution.

What exactly are “finfluencers”?

“Finfluencer” simply means someone online who shares money tips — often on platforms such as Facebook, YouTube or Instagram. Some offer useful general guidance about saving or budgeting. But many are not regulated or qualified, which means they can say almost anything without the checks a professional adviser must go through.

The result? Their posts can spread fast — especially in local groups — and reach people who’d never normally think of themselves as investors.

Why their posts feel so convincing

• They seem friendly and familiar — often filmed in a kitchen or over a coffee.
• They tap into FOMO — that little voice that says, “Everyone else is doing this… why not me?”
• They add pressure with “limited-time offers” or “exclusive access” that make it sound urgent to act now.

Even sensible savers can get swept along by that mix of warmth and excitement.

A typical story

Picture for a moment a retired teacher – let’s call her Margaret - who wanted her savings to work harder. She came across a Facebook video promoting a “guaranteed investment opportunity.” The presenter looked professional, the charts looked impressive, and the comments were full of praise.

Margaret paused. Something didn’t feel right, so she contacted her financial adviser before moving any money. A quick check on the Financial Conduct Authority (FCA) Register showed the company wasn’t authorised — and, in fact, had warnings against it. By taking a few minutes to talk it through, she avoided a potential scam.

We often hear from people like Margaret — thoughtful, sensible individuals who simply want to make the most of their money, safely. But it’s the people we don’t hear from that we need to worry about – the ones who don’t spot the warning signs and get a second opinion.

What’s happening behind the scenes

The FCA has been clamping down on misleading online promotions and warning against finfluencers who make unverified claims. But new schemes appear every week, often recycling the same promises: big returns, no risk, easy access.

Unfortunately, that combination rarely ends well.

TSB found that of the 31% of people who acted on financial advice seen online, over half (55%) lost money as a result¹. Across the UK, around £75 million was lost in 2022 to scams promoted on social media². Sobering figures — especially for those tempted by a too-good-to-be-true “tip” on Facebook.

How to stay safe

Before you click, post or share, it’s worth remembering a few key points:

Only trust advice from FCA-authorised firms or advisers.

• Genuine opportunities don’t vanish overnight.
• Be sceptical of “guaranteed” returns — every investment carries some risk.
• Look up the firm on the FCA Register or talk to a qualified adviser.
• Stick to your plan — your goals, not a stranger’s promises, should guide your choices.

Not everything you read is bad

Learning about money online isn’t a bad thing — it’s great that more people want to take control. But it’s also easy to mistake confidence for credibility. Sometimes, a quick conversation with a qualified adviser brings far more peace of mind than hours of scrolling.

Here at Ginkgo, we help people in South East London and beyond make sense of their options clearly, calmly and without pressure.

If you’d like to sense-check something you’ve seen online, we’d be happy to talk it through.

Daren Wallbank, Chartered Financial Planner & Co-owner, Ginkgo Financial Ltd

The value of investments can go down as well as up, and you may get back less than you invest. Past performance is not a reliable indicator of future results.

This is a composite example based on real client situations. It’s for illustrative purposes only.

References

¹ TSB Research – Over half who acted on social-media financial advice lost money: financialit.net/news/personal-finance/over-half-who-acted-social-media-financial-advice-have-lost-m…

² Good Money Guide – UK investors lost £75 million to scams on social media: goodmoneyguide.com/investing/uk-investors-lose-75-million-to-financial-scams-on-social-media

BBC News – FCA crack-down on misleading promotions: bbc.co.uk/news/articles/crljw8n78l1o

IFA Magazine – FCA tightens rules on finfluencers: ifamagazine.com/fca-cracks-down-on-finfluencer-social-media-promotions-ahead-of-consumer-duty-deadline

Approver Quilter Financial Services Limited 17/10/25.