On a singular TikTok post, Fidelity have racked up 11.5 million views. Yes, you read correctly. You may be aghast but this is just one of the many impressive figures you will see throughout this blog. In today’s TikTok edition you are going to have to “buckle up”, because I have some impressive numbers to share.
I wrote my first TikTok blog, focused on StockTok, back in September 2021. Little did I know that I would be back for part two, discussing this new generation of investors, in April 2021. You may have guessed by now that you are about to embark on part 3 of my TIkTok teachings. At this point, I am debating calling this a series – if Netflix are interested.
I am what you would call a Gen Z’er (pronounced “zed-er”) which is typical Gen Z language in itself. It is only right that living and breathing TikTok is natural to me. Everybody talks about reaching the next generation of investors and these can be found on TikTok. So, what happens when you mix asset management marketing teams and TikTok? I Introduce to you the Asset Management firms going loco for TikTok.
Fidelity Investments
I spoke about Fidelity in my first TikTok blog, when the firm had only around 833 followers. They now have 13.8k followers and 454.5k likes*. I think the influence they have had on this younger generation is quite extraordinary, amassing millions upon millions of views on their videos.
Views across just three of Fidelity’s videos
Attitudes towards investing are changing. It really is more important than ever to be present in money conversations, no matter where they are happening [1]. And, as shown by Fidelity there is no denying that this content is resonating with the younger generation.
Blackrock
Blackrock, one of the largest asset managers is now on TikTok. They launched their TikTok account in February 2022 and have already amassed 2125 followers and 1407 likes*. The question is, why is BlackRock on TikTok? Frank Cooper III, Blackrock’s Global Chief Marketing Officer, is hoping to use the account to educate a new generation of investors so that they can “begin building a strong financial future”[1].
Conversations about money are important and younger people are turning to social media to gather insights and information surrounding investing and other financial education. On TikTok, #Investing has 7.1 billion views whilst #Investingtips has 198.1 million*. While I can’t deny that these are staggeringly large numbers, it does really make me question the reliability of the information being shared. Misinformation can be damaging, especially amongst younger individuals, and I think there is a really important role that investment management firms can play on TikTok. And that’s by providing sound and reliable information just like BlackRock and Fidelity are doing.
I’m not saying my previous blogs helped Fidelity reach their new heights, but I will certainly be keeping a close eye on how the BlackRock account grows over the next few months. Perhaps that will be part four of this saga.
What is their goal?
Generation Z is “built different” (as we say) and whilst they may not be the target audience for investment firms right here right now, they will be. These are the next generation of investors. So, my question is, if you don’t already find yourself in their space, then when?
* Information obtained is directly from TikTok as of April 2022..
[1] https://www.investmentnews.com/fidelity-is-on-tiktok-jockeying-for-generation-z-210421
[2] https://www.bloomberg.com/news/articles/2022-02-03/why-wealth-management-giant-blackrock-is-looking-to-go-viral-on-tiktok