Three quarters of Gen Z investors now rely on social media and finfluencers for tips

Nearly three quarters of Generation Z investors head to social media and 'finfluencers' as their main sources of information when making investment decisions, data shows.

Gen Z's reliance on these sources is considerably higher than among other generations, with 60 per cent of millennials similarly using social media, according to research from Charles Schwab.

Only 36 per cent of Gen X use social media as their main source of information, falling to just 11 per cent among baby boomers and the silent generation.

Some seven in 10 Generation Z - adults between 18-28 - consider themselves active investors.

The figures indicate young investors are more likely to turn to finfluencers than the generation as a whole, with recent data from Santander indicating 31 per cent of Gen Z look to social media personalities as their main source of financial information.

Richard Flynn, managing director at Charles Schwab UK, said: 'Digital platforms and the sheer volume of financial information available today has made it much easier for young investors to trade.

'This is allowing the creation of online investment communities and forums, with finfluencers and social media playing a much more important role in the investment process than in previous years.'

Finfluencers have their critics, as unlike traditional sources of financial information, such as financial advisers, they aren't regulated, and there are concerns that some may be sharing misinformation online, knowingly or not.

While considerably more popular among younger investors, the overall use of social media and finfluencers as sources of financial information increased to 43 per cent of investors as of 2025, from 39 per cent a year ago.

Networking platform Linkedin proves the most popular social media for investing tips, with 46 per cent of younger investors turning to the social media, compared with 44 per cent using Instagram, 43 per cent using TikTok and 40 per cent choosing Reddit.

Alongside social media personalities, younger investors are also increasingly relying on conversations with other retail investors on online forums and communities when looking to make investment decisions.

More than half of Gen Z investors also read online blogs when deciding where to invest.

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As with use of finfluencers and social media, this is a trend that is only increasing.

The use of online communities has rise to 45 per cent for among investors as a whole, compared to 39 per cent a year ago.

Despite this growing trend, many younger investors are still aware of the benefits of professional advice.

Some 67 per cent of Gen Z said the most important source of information for making investment decisions was financial advisers and fund managers, a higher proportion than the 63 per cent average.

Flynn said: 'The increase in the number of sources that provide investment information means it is becoming increasingly important that young investors know what they can and can't trust.

'It is therefore reassuring that our research shows Gen Z still recognise the benefits of proactively seeking professional advice to make the most of their investments.

'If new investors are looking to adapt their strategies with the current market volatility to aim to protect against losses, a diversified portfolio, balanced across asset classes and sectors is a sensible, time-tested approach for many investors.'