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Investors Prefer Finfluencers Over Institutions; 93% Show Trust, Says SEBI Survey
Fininfluencer, Investors Trust Survey: A SEBI survey revealed that 93% of investors follow the advice of fininfluencers. 91% use YouTube, while 64% find investment information on Instagram and 61% on Facebook.
Even with numerous investment possibilities and guidance platforms, 93% of investors find fininfluencers, or financial influencers, trustworthy. 7% find them entirely untrustworthy. The SEBI survey finds that digital peer groups continue to be the most popular source of product information in the securities market.
The poll found that 62% of investors make some or all of their investment choices based on fininfluencer suggestions. 91% of investors follow fininfluencers on YouTube. 64% follow them on Instagram, 61% on Facebook, 11% on Twitter, and a mere 4% on LinkedIn.
59% of the total sources of information for securities among investors are friends, family, and colleagues. 56% of the total is from social media. Online investment tools like Telegram, Facebook, and Reddit are used by 34% of investors.
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Investors who wish to invest are concerned about the complexity of securities market products, the risks, and returns. Their main concerns include fear of loss, limited knowledge and access, and low trust in financial institutions. Those who wish to invest fear losing money due to market risks, especially in stocks. 79% fear losing money due to risks. 67% are concerned about the uncertainty of returns and performance.
According to the survey, only 36% of investors have moderate to high levels of market knowledge. This is true in areas with high market penetration. 50% of investors have low knowledge. 28% have no idea how the product works. 27% don't know how to start investing. With so many sources of information available, 20% remain confused about investing.
