Nationwide’s ninth annual Advisor Authority survey reveals a surge in the use of generative AI among financial advisors. The study, powered by the Nationwide Retirement Institute, emphasizes the prevalence of online misinformation impacting investors, particularly younger generations. The survey found more than a third of non-retired investors aged 18–54 have acted on misleading financial information found online, with gen Z and Millennial investors being the most susceptible.
The survey indicates a shift in investor behavior, with 42 percent of gen Z and 38 percent of Millennials accessing financial information through social media. Moreover, these younger demographics display a higher reliance on generative AI for financial guidance compared to their older counterparts.
While 31 percent of advisors plan to implement AI in the next year, they view it as a supplement rather than a replacement for personalized advice. Advisors are proactively addressing misinformation by educating clients on potential risks, with 58 percent focusing on misinformation from social media and AI. Younger investors further indicate an increased trust in advisors using AI, while advisors stress the importance of combining AI insights with their expertise to ensure clients’ best interests are prioritized.
A study by online trading provider City Index highlights the most discussed stocks on social media platforms TikTok and Instagram, revealing Disney as the most popular. Analyzing S&P 500 companies, the research finds Disney leading with 6,151 videos and 79.2 million views, along with 44,177 hashtags. Netflix secures the second spot with more than 13 million video views and 4,635 hashtags, while Amazon claims the third position with 5.9 million views, 17,278 hashtags and 725 videos.
Notably, Tesla emerges as the fourth most popular stock on social media, featuring in 739 videos with more than two million views and 1,898 hashtags. Despite its significant online presence, Tesla’s share price stands at around US$260. The study underscores the widespread interest in financial advice on social media, with videos of the top 10 companies amassing more than 117 million views. City Index anticipates continued discussions on social media regarding trading and investment opportunities, especially with the growing accessibility of trading to the broader public.
This list showcases the top five cyber-secure countries for the purposes of remote work, in research conducted by NordLayer, a cybersecurity company formerly known as NordVPN.
1. Slovakia: Showcasing its investments in cybersecurity, Central European nation Slovakia comes out on top.
2. Estonia: With its robust e-Estonia program in place, Estonia is a proven digital leader in the Baltic states.
3. Lithuania: Combining history with digital proficiency, Lithuania showcases quick response capacity and robust legal measures.
4. Germany: Boasting unrivaled internet affordability and fortified digital borders through the groundbreaking German IT Security Act 2.0 of 2021, Germany clinches the fourth spot.
5. Saudi Arabia: Rounding out the top five in an otherwise European-dominated list, Saudi Arabia excels in cyber infrastructure and legal measures.
In the realm of celebrity wealth, FOREX.com’s analysis delves into the strategic investments of renowned figures, uncovering intriguing patterns as 2023 concludes. Notably, the study exposes the ultimate celebrity investor, with singer-songwriter Babyface leading the pack, boasting an extraordinary 134 percent return on net worth, surpassing the average for singers.
YouTubers emerge as investment trailblazers, achieving a remarkable 13.6 percent return, outpacing other professions. Athletes, however, are sporting the highest average net worth at US$905 million despite only yielding a 9.84 percent average return.
Social media influencer Bella Poarch shines as the top female investor, realizing a substantial 51 percent return.
The research unveils the investment prowess of various other celebrities, including TikTok sensation Chase Hudson and iconic musician Billy Joel. Noteworthy is Joel’s multifaceted investment portfolio, extending beyond music to real estate, stocks and lucrative ventures.
The study emphasizes the diversified strategies of celebrity investors, shedding light on the dynamic landscape of fame and financial acumen.