Nearly one third of high-earning Brits admit they use social media to make major investment decisions, with video-sharing app TikTok emerging as the most popular platform for financial guidance.
New research from wealth platform Sidekick – which surveyed Britons earning £100,000 or more about their investment choices – suggests many high earners are bluffing their way through major financial decisions, relying on social media and Artificial Intelligence for advice.
The study found nearly one third of high-earning Brits pretend to understand key decisions involving large sums of their own money, with half ultimately losing cash as a result.
Twenty-four percent now rely on AI tools for financial guidance, while three in ten turn to social media.
One in three also admitted they have made investment decisions involving £10,000 or more that they later regretted, while more than 82 per cent said they feel anxious about their financial future.
Sidekick cofounder and CEO Matt Ford said ‘success increases the pressure’ on high earners – helping to explain the results.
He said: ‘Earning more does not automatically make you feel more secure. In many cases, success increases the pressure.
‘When someone receives a large bonus or sees their balances grow quickly, the fear of making a costly mistake becomes more real. That’s often when regret creeps in – especially if decisions are rushed or based on incomplete understanding.
Matt Ford, CEO and cofounder of Sidekick – the wealth platform which surveyed Britons earning £100,000 or more about their investment choices
‘There’s a growing gap between how successful people look on paper and how confident they actually feel. Pretending to understand risk, fees or structure is far more common than people admit – and that’s where expensive mistakes begin.
‘I also always remind people: social media can be a useful starting point, but it should not be your investment strategy. ‘Finfluencers’ are optimised for views, not for protecting your long-term wealth.
‘When you’re making decisions involving tens or hundreds of thousands of pounds, you need reliable, trusted guidance.’
Sidekick’s research also explored the key financial trigger moments when high earners say money starts to feel more serious.
Fourty four per cent of respondents said receiving a large bonus, followed by a significant pay rise at 41 per cent and investment balances growing larger than they felt comfortable managing at 31 per cent.
Selling a property was cited by 28 per cent of respondents, followed by receiving a business payout at 26 per cent and inheriting money at 22 per cent.
Other tipping points include making a major career change, with 23 per cent of respondents citing this and reaching a milestone age at 28 per cent. Nearly one third also said their money had outgrown the platforms or tools they were using.
On average, respondents said investing starts to feel important at around the age of 33, and when portfolios reach roughly £51,000.
Mr Ford, however, emphasised the importance of avoiding impulsive financial decisions.
He said: ‘Don’t rush because it feels urgent. Large bonuses or lump sums create pressure to act quickly, but the best decisions are rarely made in a hurry.
‘Give yourself time to think through strategy rather than reacting emotionally.
‘If you don’t understand it, don’t invest in it. Confusion is a warning sign, not a challenge to overcome. If you can’t clearly explain how something works, what the risks are and how it makes money, pause before committing capital.
‘Stress-test where your information is coming from. Social media and AI can be useful starting points, but they shouldn’t be your investment strategy. Short clips and hot takes rarely explain the full risks involved.
‘As your money grows, your setup should evolve too. The tools and platforms that work when you’re investing small amounts don’t always make sense once portfolios become meaningful.
‘That’s often the moment to reassess your approach.’
