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UK Finfluencers: Exploring Content, Reach, and Responsibility

Essam Ghadafi, Panagiotis Andriotis

TL;DR

This paper investigates the content, reach, and responsibility of UK finfluencers on TikTok, motivated by concerns about misinformation and regulatory oversight. The authors construct a novel dataset of 71 finfluencers active from April to September 2024, totaling 13,216 videos and 104,097 comments, and apply engagement metrics, bios analysis, social-graph analysis, topic modeling, and sentiment analysis to uncover patterns. Key contributions include identifying four core content themes, quantifying the sparse use of disclaimers (especially in bios) and their association with active-trading content, and revealing a well-connected influencer network with mid-tier actors bridging clusters. The findings highlight regulatory implications for transparency and risk disclosure, suggesting platform-level labeling and disclosure guidelines to mitigate potential harm while preserving financial literacy benefits.

Abstract

The rise of social media financial influencers (finfluencers) has significantly transformed the personal finance landscape, making financial advice and insights more accessible to a broader and younger audience. By leveraging digital platforms, these influencers have contributed to the democratization of financial literacy. However, the line between education and promotion is often blurred, as many finfluencers lack formal financial qualifications, raising concerns about the accuracy and reliability of the information they share. This study investigates the patterns and behaviours of finfluencers in the UK on TikTok, focusing not on individual actions but on broader trends and the interactions between influencers and their followers. The aim is to identify common engagement patterns and propose guidelines that can help protect the public from potential financial harm. Specifically, the paper contributes a detailed analysis of finfluencer content categorization, sentiment trends, and the prevalence and role of disclaimers, offering empirical insights that inform recommendations for safer and more transparent financial communication on social media.

UK Finfluencers: Exploring Content, Reach, and Responsibility

TL;DR

This paper investigates the content, reach, and responsibility of UK finfluencers on TikTok, motivated by concerns about misinformation and regulatory oversight. The authors construct a novel dataset of 71 finfluencers active from April to September 2024, totaling 13,216 videos and 104,097 comments, and apply engagement metrics, bios analysis, social-graph analysis, topic modeling, and sentiment analysis to uncover patterns. Key contributions include identifying four core content themes, quantifying the sparse use of disclaimers (especially in bios) and their association with active-trading content, and revealing a well-connected influencer network with mid-tier actors bridging clusters. The findings highlight regulatory implications for transparency and risk disclosure, suggesting platform-level labeling and disclosure guidelines to mitigate potential harm while preserving financial literacy benefits.

Abstract

The rise of social media financial influencers (finfluencers) has significantly transformed the personal finance landscape, making financial advice and insights more accessible to a broader and younger audience. By leveraging digital platforms, these influencers have contributed to the democratization of financial literacy. However, the line between education and promotion is often blurred, as many finfluencers lack formal financial qualifications, raising concerns about the accuracy and reliability of the information they share. This study investigates the patterns and behaviours of finfluencers in the UK on TikTok, focusing not on individual actions but on broader trends and the interactions between influencers and their followers. The aim is to identify common engagement patterns and propose guidelines that can help protect the public from potential financial harm. Specifically, the paper contributes a detailed analysis of finfluencer content categorization, sentiment trends, and the prevalence and role of disclaimers, offering empirical insights that inform recommendations for safer and more transparent financial communication on social media.
Paper Structure (20 sections, 5 figures, 6 tables)

This paper contains 20 sections, 5 figures, 6 tables.

Table of Contents

  1. Introduction
  2. Our contribution
  3. Paper Organization
  4. Related Work
  5. Methodology
  6. Ethical Considerations
  7. Data Collection
  8. Finfluencers Data Analysis
  9. Finfluencers Activity and Engagement
  10. Content, Credibility, and Disclosure in Finfluencer Bios
  11. Social Graph of Finfluencers
  12. Video Data Analysis
  13. Duration vs. Engagement
  14. Analysis of Video Hash Tags
  15. Topic Modeling and Thematic Consolidation of Videos
  16. ...and 5 more sections

Figures (5)

  • Figure 1: Activity metrics of finfluencers: (a) Likes, (b) Videos, and (c) Followers.
  • Figure 2: Word cloud showing common terms in finfluencer bios.
  • Figure 3: Directed follower network among finfluencers.
  • Figure 4: Correlation between video engagement and video duration
  • Figure 5: With-disclaimer finfluencer metrics: (a) Likes, (b) Videos, (c) Followers.