PIPA warned that unqualified social media influencers were presenting themselves as property investment experts, with chair Nicola McDougall noting the sector had no national regulation and attracted opportunists during market booms. She urged consumers to check licensing and accreditation before acting on advice found online. ASIC research had found a third of 18 to 21 year olds followed a financial influencer, and most had changed a financial behaviour as a result.
Reported by
Sophie Forster, Herald Sun, 23 February 2023
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