EVP explains how the industry can embrace the staggering rise of a new class of investor thought leaders
Social media financial influencers (finfluencers) are more widespread, impactful, and trusted than anyone might have expected. That’s the core takeaway from a new survey conducted for Global X Canada which found that 70 per cent of Canadians consume financial creator content. Of those viewers, 90 per cent have taken at least one action after consuming finfluencer content, whether that was saving more, shifting their investment strategy, or bringing a new conversation topic to their advisors. 90 per cent of those investors who acted on finfluencer content say they’re happy that they did. While Gen Z and Millennials had the most familiarity with and trust in finfluencers, even the majority of Canadian baby boomers (54 per cent) consume finfluencer content.
The results are significant and show just how far finfluencers have reached into Canadians’ lives. While regulators have sounded the alarm about unvetted advice and significant risks that can come from finfluencer content, this survey shows that their voices are not always seen as harmful by the Canadian public. Stephanie Wolfe, Executive Vice President and Head of Marketing at Global X Canada shared her insights from the survey, emphasizing how finfluencers have helped reach a cohort of curious Canadians seeking authenticity from the content they consume.
“Canadians are more discerning when it comes to the information that they're looking for online. And they can tell a product push or something that seems risky a mile away. And I think we're seeing it more and more,” says Wolfe. “We wanted to do this research is we had seen a shift in the way that Canadians were consuming content in order to get financial information, with traditional media in decline. What surprised me is the discovery that financial creators are now a mainstream part of how Canadians are getting their financial news and information. It’s not passive scrolling, either. People are taking action.”
Wolfe believes that this ubiquity of engagement with finfluencers speaks to how eager Canadians are to learn about money and build their wealth. What had felt distant and arcane has now, thanks to these finfluencers, become accessible. Through those finfluencers, Canadians have gained more confidence about investing as well as a desire to learn more.
While finfluencers are often positioned as a threat to advisors, the survey found that engaging with a finfluencer can actually improve engagement with advisors. Of the surveyed investors who have advisors, 81 per cent said that finfluencer content has changed their advisor relationship, largely through improvements to the quality of their questions and their capacity to engage in planning conversations. Wolfe believes that while Canadians may engage with and learn from finfluencers, that natural skepticism and need for trust brings them back to their advisors.
For all the positive ways finfluencers appear to be making financial education more accessible, Wolfe acknowledges the need for caution in this space. She notes that social media is a place rife with misinformation and while she believes consumers to be discerning, Wolfe also thinks that regulatory guardrails can help protect vulnerable investors from bad actors. That regulation can help build greater trust, and further amplify the capacity for online platforms to educate Canadians.
Wolfe believes that advisors should not see these finfluencers as a threat. Instead, she believes that this wider proliferation of access to investing information can help deepen and accelerate advisor-client conversations. As advisors work to engage the next generation of clients, they can see the topics and conversations that gain traction online and position themselves as that trusted voice for younger Canadians engaging in those conversations.
Global X works with certain finfluencers as well, within the guidelines set by both the CSA and CIRO. That means a strict view towards quality content creators, be they broad-based or subject specialists. The content that’s put out in connection with Global X is vetted for compliance and oriented towards education. Wolfe sees her firm’s work with those finfluencers as dovetailing with their outreach to advisors, helping to broadly improve the quality of financial literacy and access to financial information in Canada. It’s work that Wolfe notes may be part of her firm’s submission to the 2026 WP awards as they try to earn the ETF Provider of the Year award for the third time running.
“Financial creators are a part of this broader shift in how people are accessing information, and so when it's used responsibly, I think that this evolution really supports better financial literacy and engagement,” Wolfe says. “And I think the challenge that we're all facing right now, and both CSA and CIRO are acknowledging right now, is that question of how we encourage responsible behavior? How do we set those clear standards and protect investors without ignoring the fact that Canadians are already learning it in these places. We believe we should be a part of the conversation as well.”
