FINFLUENCERS: EXPLORING THE RISE, RISK AND REGULATIONS.

Abstract

In the current era social media has emerged as an effecting influential marketing of tool. Social 
marketing is driven by social media influencers who create followers and promote various products 
and services. These are also known as ‘Social Media Influencers’ or ‘Micro – Celebrities’ and there 
are many such social media influencers promoting wide range of products and services. 
The motives for individuals to become social media influencers can range from pure philanthropy, 
getting societal recognition, financial incentives or as being a part of career or profession. 
Finfluencers are a subset of social media influencers who create contents related to financial aspects 
and give suggestions on finance and money management. These individuals want to educate their 
followers and enrich them on wide range of aspects of financial management. Finfluncers can have 
great impact and may pose serious risks to their follower investors. 
Are these individual finfluencers really genuine and do they have the capability to be finfluencers? 
This research paper gains insights into various aspects associated with finfluncers through secondary 
research. The study understands that, as such there are no restriction on becoming finfluncers, the entry 
barriers into this domain are literally quite low. Since anyone can become so called finfluncers and 
may have diverse motives. There are chances that finfluencers may exploit their influence to gain for 
themselves at the expense of others. The study explores the rise of finfluncers the impact it may have 
and also compiles the key the existing regulations or initiatives across major economies on 
finfluencers. The study highlights that there is a need to regulate finfluncers to protect the investors 
from frauds or future crises. It is concluded that there is a need for uniform global regulations for 
finfluencers.

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