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My latest MoneySense Retired Money column has just been published. You can find the whole column by clicking on the hyperlink here: Online Influencers Grow Up.
When it comes to financial influencers, the popular term is Finfluencer, a contraction similar to my own Findependence for Financial Independence.
The column was inspired by an interesting gathering of Canadian finfluencers organized by BMO ETFs, which occurred in the first half of June. The BMO Creator Insights Forum was held at Cboe Canada in Toronto and it ran a scrolling feed of domestic finfluencers which included Yours Truly.
Back in April of 2025, the OSC released a research report titled Social Media and Retail Investing: The Rise of Finfluencers, which found investors are indeed quite influenced by Finfluencers: OSC research on 655 Canadian retail investors found 35% of them had made a financial decision based on advice from a Finfluencer. Furthermore, 24% of 1,465 Canadian social media users (both investors and non investors) exposed to finance-related social media posts were found to have purchased the promoted assets, versus just 7% those not so exposed.
“Financial advice on social media is appealing because retail investors perceive it to be accessible, free, and informative,” the OSC said, “While retail investors believe finfluencers are generally motivated by self-interest, about 40% of investors believe that the finfluencers they follow are trustworthy. Those who have made a financial decision based on finfluencer advice were seven times more likely to trust finfluencers they follow.”
To be sure, it appears the more successful ones can make money at it: one BMO slide showed that the global influencer market is worth US$33 billion in 2025, up 35% from US$24 billion a year earlier; and it estimated C$1.9 billion Canadian spending by corporations on Finfluencer marketing in 2025, up 23% from 2024. One in six Canadian retail investors have purchased an Exchange Traded Fund (ETF) because they heard about it on some form of social media.
The MoneySense column highlights the experiences of several (mostly young) Canadian Finfluencers, whose channels typically are YouTube, TikTok, Instagram and a few other platforms. They describe how they got their starts and built commnities that can eventually be monetized. It can be hard work in the early years, as with any one starting a business, and a precious commodity is building and maintaining reader or viewer trust.
Regulatory considerations for Finfluencers
The BMO Creator event closed with a more cautious overview of the regulatory risks corporations and Finfluencers jointly bear. One of the last slides, titled “Be Proactive!” advised Finfluencers to read the OSC notice, review their existing content inventory, evaluate services for registerable activities or disclosure requirements, Follow sponsorship disclosure requirements, Be careful of who you help endorse or promote and to Seek legal help to help stay compliant.
In short, whether you’re a seasoned investor (in both senses of the word) or still working, it’s very much a Buyer Beware world out there, while if you’re a content creator of any age, Trust is not a commodity to be abused or taken for granted. As Adrian Bar warned, content creators are better off passing on what might have otherwise become lucrative partnerships if it compromises trust with their audience down the line.
Good on creators like that but if you’re a consumer or investor, wait until a Finfluencer has earned your trust; until then, take pronouncements on YouTube or other platforms with the proverbial grain of salt.
