Innovation | 05.12.22
Financial Giants Tiptoe Into TikTok
As TikTok accounts focused on money gain huge followings, traditional financial firms are wading into youth-oriented social media platforms to reach a new audience. For financial companies, that means learning a new language from scratch: speaking in bite-sized clips with a high-quality visual style to share lessons in a lively and engaging way. Fidelity Investments is among the first financial giants to dip its toes into TikTok. Since setting up its account @fidelity in June 2021, it has amassed over 14,000 followers and almost half a million likes. BlackRock's @blackrock, meanwhile, has gained around 2,300 followers so far. "TikTok is the opposite end of spectrum from the 20-page whitepapers that we are very good at producing," said Rich Latour, BlackRock's global head of content. "But we need to target that next generation of investors, with the production values they are used to seeing, and help them wade through all the financial misinformation out there."
Read the full article on Reuters