Finance Influencers Have a Positive Impact on 50% of People
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Finance Influencers Have a Positive Impact on 50% of People

In this Marketing Report:

At Sortlist we decided to survey 1,000 people following finance and wealth influencers, with the aim to understand the power those social media influencers have on people’s decisions and how they compare to traditional wealth advisors and specialists. Here’s what we found.


is more important than number of followers in finance


Users who have not lost trust in their financial influencers


People that have bought an asset thanks to financial influencers

Where Do People Get Their Financial Information From?

People still prefer Google

Alongside specialists, Google remains people’s easiest source of financial information.

Exactly 39.2% prefer to use Google, while 26.8% prefer to consult their investment or finance advisor.

Easiest source of information

For 36%, social media is still the main source

However, the majority of older users (45-54 years old) still view their banker or wealth specialist as the main source.

Main source of information

In Love With Crypto

Our survey revealed that, in finance, people across all markets follow influencers for crypto stocks (29.06%) investment information.

Type of content for finance influencers

Visuals Are Finance’s Allies

YouTube and Instagram are the social media channels that garner finance influencers most of their followers in their digital strategy.

Social media for finance information

What Does It Take to Trust An Influencer?

What Does It Take to Trust An Influencer?

In every country surveyed, credibility stands as the most crucial element that make people trust a finance influencer.

In the finance industry, content and referrals are more important than the number followers.

What makes you trust a finance influencer?

Only 30% Research Influencers’ Background Information

Only 30% of people claim to sometimes research the background information of finance influencers.

Research information received from a finance influencer

What’s the Impact of These Influencers on Users?

4 out of 5 people have bought an asset thanks to financial influencers

78.49% of people say that financial influencers have convinced them to buy an asset.

An influencer's influence

Almost half of people say financial influencers had a positive impact on their investments

An overwhelming 46.51% of respondents claimed that financial influencers’ help had a positive impact on investment decisions, while 42.44% say they helped their financial mindset.

Impact of following finance influencer

Trust in Finance Influencers Is Rock-Solid

Other than the sense of feeling fake or false, users have virtually no reason to lose trust in the finance influencers they follow.

Loss if trust in a finance influencer

How Do Finance Influencers Compare to Specialists?

Alongside Credibility, Honesty Is the Most Important

In finance, people trust specialists to be trustworthy, give a personalized service, and be transparent, more than they do influencers.

Specialists over finance influencers

A quarter of users would not trust finance influencers for asset buying

There are things that people simply wouldn’t trust an influencer with.

In finance, these can be issues related to knowing which assets to buy (27.65%) and what platforms to use (21.23%).

What kind of information won't you trust a finance influencer with?

Financial specialists are expensive and hard to contact

Most users feel that the cost of wealth specialists (49.12%) and their ease of access (22.06%) are the main blockers that stop them from reaching out to them.

Blockers for contacting finance specialists

At the end of the day, people trust wealth specialists more than finance influencers

Only 1 out of 5 people would trust finance influencers before specialists, meaning the former still have a long way to go to establish their full credibility in the industry.

Who do you trust more?

Finance Influencers Still Have a Long Way to Go to Build Trust

As our study revealed, people will often seek the advice of wealth specialists, particularly when important financial decisions have to be made or when actions are ready to be taken. This is despite the fact that most users still pay attention to financial influencers’ tips, recommended stocks, and investment guides.


This study took place between June 1st and June 8th, 2022, among 1,000 users in Spain, Germany, the Netherlands, France, and Belgium. We polled users that followed financial and wealth influencers in order to determine how much they trusted those influencers and how reliable they felt they were. The responses are anonymous.

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