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Likes vs. Licenses: Why You Shouldn't Trust Influencers with Your money

The Instagram Nine, it sounds like the latest blockbuster or super group don’t you think?


In reality it nothing of the kind. Seven Instagram influences are being prosecuted, with each facing one count of unauthorised communications of financial promotions. In short, they are advertising investments on their accounts when they shouldn’t.


4,500,000 is the number of follows associated with the 9 individuals involved. Are you one of them?


The number of referrals made to the organisation in question rose from 499 in 2020 to 703 in 2023,  which is actually quite positive, only 204 of the 4.5 million follows were potentially duped. This number could have been much, much higher.


The problem is social media has such a large reach, a global following, and every where you turn there is someone trying to sell you something.


TLD wealth Management are no different, we’re not, we want to engage with as many potential customers as possible. Its how business is done today.


However, there is a right way and a wrong way, and we believe it starts with education, not school and books, but families discussing finances, the do’s and don’ts they have learned over their life time, this information should be passed on. It was to me by my parents.


You may remember the track by the Australian film director, producer, writer, and actor. Mark Anthony "Baz" Luhrmann ‘sunscreen’


Be careful whose advice you buy, but, be patient with those whosupply it. Advice is a form of nostalgia, dispensing it is a way offishing the past from the disposal, wiping it off, painting over theugly parts and recycling it for more than it's worth.

 

Our advice is free and our advisers are qualified to give their advice, they have passed exams and completed training courses and to our knowledge have never ever appeared on a reality TV show, so they know what they’re talking about.


TLD Wealth Management Ltd, insurance with integrity.

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