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00:29But from tips on individual stocks and cryptocurrency to promises of getting rich quick, how much
00:36of this advice should you actually trust?
00:39Broker comparison website BrokerListings.com analysed 150 popular finance-related TikTok
00:45videos, each with at least 100,000 views.
00:49It found that more than 70% of creators did not display a clear relevant background in
00:54financial services or suitable qualifications, and more than 60% of videos didn't adequately
01:00explain the potential risks or downsides of what they were discussing.
01:05But that doesn't mean all financial content on TikTok is unreliable.
01:10Researchers also found useful videos about budgeting, saving and long-term investing, while
01:16established financial education channels use TikTok to explain investment products and concepts.
01:22So, how can you tell the difference between helpful and potentially unreliable advice?
01:27Experts say you should be cautious of creators who use displays of wealth, such as luxury cars
01:33or expensive hotels, to suggest an investment strategy that could bring similar rewards.
01:38Urgency is another red flag, such as claims a stock is about to soar or crash.
01:44And before putting your money at risk, check claims against established sources, including
01:49financial regulators, company information and trusted news organisations.
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