It’s no secret that social media has infiltrated almost every sphere of our lives, so it’s no surprise that it’s now claimed a spot in so many people’s financial lives too. Individuals giving financial advice on social media platforms isn’t new, but the recent rise of #FinTok on TikTok has raised new concerns, shedding light on the dangers of taking financial advice from social media.

What is #FinTok

#FinTok is a hashtag trending on the TikTok social media app. A search on TikTok and any platform for this hashtag will show results of so-called billionaires boasting high returns and handing…

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