Home Education This advisor uses FinTok to reach the next generation of female investors

This advisor uses FinTok to reach the next generation of female investors

This advisor uses FinTok to reach the next generation of female investors

Britney Castro

Source: Britney Castro

Britney Castro began her career as a financial advisor at age 22.

For her, the fact that she was a young woman in a senior profession dominated by men was, so to speak, an advantage, not a duty.

According to the U.S. Bureau of Labor Statistics, less than 33% of financial advisors are women. Even fewer certified financial professionals or CFPs. This may give them an advantage.

An unprecedented amount of assets will pass into the hands of women in the US over the next three to five years, which is $ 30 trillion by the end of the decade.

And young women are getting more involved. A total of 70% are women millennium reports Boston Consulting Group.

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Here are more stories that touch on divorce, widowhood, income equality and other issues related to women’s investment habits and retirement needs.

However, financial planning – and the financial services industry, more broadly – has been around for a long time the world is predominantly white men.

“Everyone followed the baby boomers because they had the money,” said Castro, who now works at Mint, Intuit’s personal personal finance management mobile app.

“I wanted to talk to people like me,” she said. It turned out that there were customers who wanted to talk to someone like Castro.

“For women, it’s more about helping them know or understand what money means to them. Instead of getting the most out of it, it creates life,” she added.

To highlight myself, “I imitated women in the space of fashion and beauty,” Castro said, “more of that modern thinking”.

Castro has used social networking sites such as TikTok, and this has paved the way for a larger customer base as well as a wider circle of fans.

“I have built my success on social media and continue to use it,” she said. “There is an opportunity for more financial advisors to do the same.”

I have built my success on social media and I continue to use it.

Britney Castro

Mint CFP

When coronavirus crisis According to Castro, people have become much more aware of their financial security.

“The pandemic has really opened the eyes of many people,” she said. More women realized this fact: “I do my own thing.”

That’s when Financial TikTok, also known as FinTokreally took.

It is now one of the most popular sources of financial information, parade and parade, especially among General Z.

But, like everyone on social media, not all the “expert” advice you see is necessarily true.

While thThere are ways to test traditional financial advisorsit is much more difficult to find out the intentions or possible conflicts of interest of someone who gives advice online.

Also, what one user says works on their finances won’t necessarily apply to the millions of other TikTok viewers who watch.

To that end, Castro starts with some proven guidelines that can be applied everywhere. Create a budget first. “The budget will tell what’s going on.”

Then direct some of your savings to a diversified investment account and gradually increase the amount over time.

“Investing is the only way we can really increase wealth,” Castro said.

But when it comes to that hot tip in the trend in TikTok, including the heavily advertised cryptocurrenciesCastro says that “with any new investment, do research and understand the risks.”

If in doubt, is it right, “go back to your budget, your plan, your goals, and what makes sense to you.”

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