The rise of “finfluencers”— individuals providing financial advice on social media platforms such as TikTok, Facebook, and podcasts — has led to significant concern, particularly in Australia. Many of these people are not licensed to provide financial advice, yet their followers often act on their suggestions, sometimes with dire consequences. Vanessa Smith and Nick Fenessy, both Directors at the Bongiorno Group, say the key issue is that advice found online may not be suitable for everyone’s unique financial situation. Younger people, often less financially literate, are particularly vulnerable. While discussing finances and money-saving tips is beneficial, licensed professionals should be the go-to source for tailored advice. MORE INFORMATION The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product. See omnystudio.com/listener for privacy information.