Gen Z's Financial Revolution Through Social Media. Social Media is a deep store of financial advice for the youngest generations.

Unifimoney Communications

Gen Z's Financial Revolution Through Social Media. Social Media is a deep store of financial advice for the youngest generations.

According to Pew Research, 46% of teens report being on social media "almost constantly." This constant engagement has led to a significant shift in how Gen Z obtains financial advice. A Forbes Advisor survey indicates that 79% of respondents have gotten their financial advice from social media, compared to 35% from family and 33% from internet searches.

While this might sound like the beginning of a pessimistic narrative on the youth of today, it's actually quite the opposite. The generations following us are proving to be smarter, more informed, and more proactive in their money management than any before them.

The Early Start of #GenZ Investors
For many older generations, their investment journeys often began with their first job and a company retirement plan. In contrast, Gen Zers are starting much earlier. According to a report from the FINRA Investor Education Foundation and the CFA Institute, a higher percentage of Gen Zers started investing before they were 18 years old compared to the two previous generations. The May 2023 report found that 56% of those aged 18 to 25 in the U.S. had at least some investments.

The ease of accessing financial information on social media and the rise of investing apps and cryptocurrencies have significantly lowered barriers to entry. "The Gen Z population is diverse and digitally savvy," said FINRA Foundation President Gerri Walsh. "They are using mobile technology to enter the financial markets in unprecedented numbers and consulting a wide range of information sources as they do so."

Influencers Leading the Charge
If you’re a #communitybank or #creditunion aiming to connect with #GenZ, it's crucial to understand who they’re learning from. Here’s a short selection of TikTok influencers making waves in the personal finance space:

Chloe Elise (@deeperthanmoney) - Certified Financial Coach with 242.9K Followers
Personal Finance Club (@personalfinanceclub) - Self Made Millionaire 159.8K Followers
Michela Allocca (@breakyourbudget) - Personal Finance Expert with 811.8K Followers
Mark Tilbury (@marktilbury) - Self-Made Millionaire with 7.2M Followers
John Eringman (@johnefinance) - Personal Finance Expert with 1.3M Followers
Vivian Tu (@yourrichbff) - Ex-Wall Streeter with 2.5M Followers
Ryan Francis (@themoneyceo) - Personal Finance Expert with 269.5K Followers
Taylor Price (@pricelesstay) - Financial Education Expert with 1.1M Followers
Humphrey Yang (@humphreytalks) - Financial Advisor with 3.3M Followers
Nicole Victoria (@nobudgetbabe) - Money Coach with 1.8M Followers

The Opportunity for Community Banks and Credit Unions
For community banks and credit unions, understanding where Gen Z is getting their financial advice is critical as is ensuring that they are delivering against their needs and aspirations in personal finance and investing.

Stay up to date on unifimoney news and product updates

© Unifimoney 2024 -- All rights reserved.

SOCIAL
LinkedIn icon
COMPANY
AboutContact
RESOURCES
Privacy PolicyTerms of ServiceUnifimoney RIA QOZB, LLC DisclosuresUnifimoney RIA QOZB, LLC Form CRSLegal LibraryAccessibility StatementSOC2 Compliance

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Please see our Legal Library for important details.

Investment advisory services are provided by Unifimoney RIA QOZB, LLC, an SEC-registered investment advisor. For important information and disclosures relating to the robo-investment account, visit https://www.unifimoney.com/legal.

Free and simple tools are available to research firms and financial professionals at https://adviserinfo.sec.gov/ or INVESTOR.GOV/CRS, which also provides educational materials about broker-dealers, investment advisors, and investing.

‍Bank Products: Unifimoney is not a bank. The Cash Account is provided by First Fidelity Bank (FFB) www.ffb.com member FDIC. The cash balance in the Cash Account may earn a variable rate of interest and is eligible for FDIC insurance. FDIC insurance coverage is limited to $250,000 per qualified customer account per banking institution. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Cash deposits are not covered by SIPC.

Brokerage account services are offered through Apex Clearing and Custody, Inc. ("Apex"), a registered broker dealer, member of FINRA and SIPC. Your cash and investments are protected by SIPC up to $500,000, with a limit of $250,000 for cash. Deposits at Apex are NOT deposits or other obligations of and are NOT guaranteed by First Fidelity Bank. Not FDIC insured-May lose value.

Digital Asset Products: Investing in digital assets involves risk, including risk of loss. Digital assets are highly volatile, can become illiquid at any time, and is for investors with a high-risk tolerance. Investors in digital assets could lose the entire value of their investment. Custody and trading of digital assets are provided by Gemini Trust Company, a New York State-chartered limited liability trust company. Digital assets are not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation (“SIPC”)." and is NOT a deposit or other obligation of FFB Bank

Precious Metal Products: Precious Metal trading is offered through GBI, a New-York-based precious metals dealer. Deposits at GBI are NOT deposits or other obligations of and are NOT guaranteed by First Fidelity Bank NOT FDIC insured.

The articles and research support materials available on this site are educational and are not intended to be investment or tax advice. Unifimoney does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Unifimoney's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

‍

Financial Institution
Client Resource Center

Fill out this form to get access.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

• You must be a Shop Your Way member to be eligible for this promotion. Membership is free. Sign up here.
• Must be a new Unifimoney customer and pass KYC (verification) processes for all partners to be issued an account.
• Existing Unifimoney customers are not eligible at this time.
• You must fund your account using Astra and/or P2P transfer.
• Users must hold at least $100 initial funding, at least $100 in crypto, at least $100 in metals, and at least $100 in equities in their account for more than 60 days.
• All missions must be completed within 30 days after account registration and before the offer expires.


**Terms and Conditions of the Shop Your Way Missions Promo. Offer only available to users who have previously created an account with Shop Your Way. Offer only available to US residents (excluding residents of Hawaii). Limited time offer. Promotion begins on PLACEHOLDER and may end any time at the discretion of Unifimoney. Offer not available to new users who were not referred to Unifimoney through the Shop Your Way referral program. Offer not available if a Unifimoney account was previously opened using the same(or different) contact information. Limitations exist on max payout per user at the discretion of Unifimoney. Rewards will be recognized on a mission-by-mission completion basis. First Mission must be completed before an account is credited with a reward. Eligible customers must complete all missions in order to receive the max reward. Max payout requires the opening of an account,  funding of said account, and completion of all Missions set forth by Unifimoney Inc. before the end of the promotional period. The promotional period is determined at the sole discretion of Unifimoney. Unifimoney may update the terms and conditions for eligibility at any time. Rewards distribution will be in Gemini dollars (GUSD) and credited, if applicable, to your Unifimoney cryptocurrency account and is tradable only within the Unifimoney app. Reward recipients are able to convert GUSD to BTC immediately. Conversion of GUSD to Cash may take two or more days to reflect. No refunds are available. Users may contact Unifimoney at appsupport@unifi.money with further questions.
‍

• You must be a Shop Your Way member to be eligible for this promotion. Membership is free. Sign up here.
• Must be a new Unifimoney customer and pass KYC (verification) processes for all partners to be issued an account.
• Existing Unifimoney customers are not eligible at this time.
• You must fund your account using Astra and/or P2P transfer.
• Users must hold at least $100 initial funding, at least $100 in crypto, at least $100 in metals, and at least $100 in equities in their account for more than 60 days.
• All missions must be completed within 30 days after account registration and before the offer expires.


**Terms and Conditions of the Shop Your Way Missions Promo. Offer only available to users who have previously created an account with Shop Your Way. Offer only available to US residents (excluding residents of Hawaii). Limited time offer. Promotion begins on PLACEHOLDER and may end any time at the discretion of Unifimoney. Offer not available to new users who were not referred to Unifimoney through the Shop Your Way referral program. Offer not available if a Unifimoney account was previously opened using the same(or different) contact information. Limitations exist on max payout per user at the discretion of Unifimoney. Rewards will be recognized on a mission-by-mission completion basis. First Mission must be completed before an account is credited with a reward. Eligible customers must complete all missions in order to receive the max reward. Max payout requires the opening of an account,  funding of said account, and completion of all Missions set forth by Unifimoney Inc. before the end of the promotional period. The promotional period is determined at the sole discretion of Unifimoney. Unifimoney may update the terms and conditions for eligibility at any time. Rewards distribution will be in Gemini dollars (GUSD) and credited, if applicable, to your Unifimoney cryptocurrency account and is tradable only within the Unifimoney app. Reward recipients are able to convert GUSD to BTC immediately. Conversion of GUSD to Cash may take two or more days to reflect. No refunds are available. Users may contact Unifimoney at appsupport@unifi.money with further questions.
‍