Finfluencer: Exploring the Untapped Influence of Financial Influencers

This study explores the impact of financial influencers, known as finfluencers, on consumer financial decision-making, filling a significant gap in the literature and integrating insights from behavioral economy theory and consumer behavior literature. The study investigates the influence of influencer financial literacy, financial orientation, and recommendation reliability on consumers’ propensity to make financial decisions. Utilizing structural equation modeling with a sample of 377 participants from the Asian social media industry, the study identifies the significant positive relationship between influencers’ characteristics and consumer financial decision propensity. Influencer recommendation reliability is a crucial mediator between influencer characteristics and consumer behavior. The study provides theoretical advancements in understanding finfluencers influence and offers practical insights for marketers, influencers, and financial service providers. The research contributes novel perspectives to the burgeoning field of influencer marketing in finance.