Asset manager Global X Investments Canada is teaming up with former BNN Bloomberg anchor Jon Erlichman to launch a financial literacy YouTube channel. The number of do-it-yourself (DIY) investors skyrocketed during the pandemic, and now for the first time this group has more money sitting in Canadian exchange-traded funds than those with financial advisors. Many DIY investors turn to “finfluencers” — financial influencers — who make market insights easier to understand, with 30% of Gen Z investors turning to them for advice. Companies like TD Bank have also launched initiatives to lure in this growing group, like TD Stories, an editorial site filled with financial tips. Fintech Wealthsimple offers a weekly economic newsletter called TLDR. If you dive into the work of finfluencers, be cautious of sponsored content that might steer you towards a company’s products and stick to sources that don’t profit from selling you investments.
