B&TB&TB&T
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Search
Trending topics:
  • Cairns Crocodiles
  • Nine
  • Seven
  • Federal Election
  • Pinterest
  • AFL
  • WPP
  • AI
  • Anthony Albanese
  • NRL
  • EssenceMediaCom
  • Thinkerbell
  • News Corp
  • Channel 10
  • Spotlight on Sponsors
  • State of Origin
  • Cairns Hatchlings
  • TV Ratings
  • Radio Ratings
  • Sports Marketing

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
Reading: “Not That Different To The Bloke Down At The Pub!” Aussie Minister Slams TikTok ‘Fin-Fluencers’
Share
B&TB&T
Subscribe
Search
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Follow US
  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
B&T > Technology > “Not That Different To The Bloke Down At The Pub!” Aussie Minister Slams TikTok ‘Fin-Fluencers’
Technology

“Not That Different To The Bloke Down At The Pub!” Aussie Minister Slams TikTok ‘Fin-Fluencers’

Staff Writers
Published on: 25th May 2021 at 1:28 PM
Staff Writers
Share
3 Min Read
SHARE

The rise of financial influencers on TikTok has become a cause for concern among experts, though the Government has declined to take any formal action.

Since early 2021, a number of articles have circulated about problematic or misleading financial advice gaining traction on TikTok.

Financial experts are keen for the government to step in too, particularly because giving financial advice without a license is illegal in Australia.

However, Financial Services Minister Jane Hume told a Stockbrokers and Financial Advisers Association conference last week that, “we have to back Australians to be sensible enough to judge for themselves whether to put their hard-earned money into higher-risk assets.”

“The TikTok influencer spruiking Nokia is not that different to the bloke down at the pub who wants to tell you all about the really great company he just invested in but with a much louder voice.”

She described TikTok ‘fin-fluencers’ as “an inevitable part of the financial ecosystem”, akin to commentators like Scott Pape, aka the Barefoot Investor. It should be noted, though, that Pape does actually have a financial license.

RMIT University senior finance lecturer Angel Zhong criticised Hume’s remarks, telling Business Insider, “the bloke at the pub does not make profits from telling you about the great company he just invested in. On the contrary, social media influencers generate income based on the views of their contents. As such, their motives are different.”

Josh Brown, CEO of Ritholtz Wealth Management told Vox back in January that while he loves “the content”, “people should not invest on the basis of a TikTok video.”

Over the last year, particularly as the pandemic left us all glued to our mobile devices, TikTok has risen as a significant platform for information across every conceivable sector. Ridiculed initially as a hub for viral dances or a spiritual sequel to Vine, the political and cultural influence of TikTok can no longer be overstated.

A number of influencers have built significant followings based on life advice, scientific insights, business advice and through their political commentary. TikTok is now also being used by visual artists and creators as an online portfolio to showcase their work.

Sydney-based Queenie Tan has amassed over 42,000 followers and 200,000 likes for her videos, which provides tips and information on things like superannuation, property and crypto.

@investwithqueenieSuperannuation in Australia 🇦🇺 ##ausfinance ##superannuation ##fintok ##moneytok ##personalfinancetips ##personalfinance♬ original sound – Queenie Tan

TikTok itself is capitalising on the fact that its reach, and the diversity of its content, is mind-bogglingly expansive. A few weeks ago, they announced that they would begin trialling an in-app job recruitment service allowing employers to reach out to Gen Z candidates.

Join more than 30,000 advertising industry experts
Get all the latest advertising and media news direct to your inbox from B&T.

No related posts.

TAGGED: Tech, TikTok
Share
Staff Writers
By Staff Writers
Follow:
Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

Latest News

TV Ratings (12/6/2025): 1.4 Million People Viewed The Western Bulldogs Kicking Its Way Into The Top Eight
13/06/2025
WARC Downgrades Global Ad Spend Forecast Amid “Trade Tensions” & Uncertain Tech Market
13/06/2025
Marketers Call For Measurement ‘Parity’ In Video, But One Buyer Warns ‘Be Careful What You Wish For’
13/06/2025
Meta Cracks Down On Nudify Apps & Sues Hong Kong Developer Behind CrushAI
13/06/2025
//

B&T is Australia’s leading news publication magazine for the advertising, marketing, media and PR industries.

 

B&T is owned by parent company The Misfits Media Company Pty Ltd.

About B&T

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise

Top Categories

  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Opinion
  • Technology
  • TV Ratings

Sign Up for Our Newsletter



B&TB&T
Follow US
© 2025 B&T. The Misfits Media Company Pty Ltd. All Rights Reserved.
Welcome Back!

Sign in to your account

Register Lost your password?