A growing number of young adults are turning to social media for investing and financial advice, and experts warn that this trend could carry real risks. Recently released data from the FINRA Investor Education Foundation (1) shows that about 25% of U.S. adults surveyed say they use recommendations from social media influencers when making investment decisions. Among people aged 35 and younger, the share jumps to 61%. Even more concerning: 57% of people with less than two years of investing experience rep ...

A former CNBC and Bloomberg anchor who started a financial education content company three years ago has branched into direct wealth management services. Nicole Lapin's Private Wealth Collective will cater to millennial and Generation Z viewers of the podcasts and other content from her Money News Network who can choose between financial coaching and on-demand video content or fiduciary wealth management services through a registered investment advisory firm collaborating with the new company. The Money N ...