Woman ditches job at JP Morgan for ‘finfluencing’ career

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FILE – In this Monday, Sept. 28, 2020 photo, a logo of a smartphone app TikTok is seen on a user post on a smartphone screen, in Tokyo. (AP Photo/Kiichiro Sato, File)

(NewsNation Now) — Vivian Tu was a stock trader at JP Morgan until she found a new, even more lucrative career in “finfluencing.”

She spends her days talking to her TikTok followers about financial concepts, some of which are tough to understand. Her account, Your Rich BFF, is among the new breed of “finfluencers” on social media.

“Everybody has their own niche on social media; whether that’s cooking, whether that’s beauty, whether that’s fitness. And this happened to be my personal passion — and a few others, as well. And in the same way that these little other niches developed … finfluencing became a thing,” Tu said.

According to her, finfluencing is a lot like the Wild West. Some people could make $1,000 off a social media post, some could make much more. She said it all depends on their following.

“This is a very lucrative industry,” she said. “And depending on what you’re most interested in, whether that’s being in front of a camera or being behind the scenes, you can do it. “

Tu believes TikTok currently is the best platform for finfluencers to go viral, and ultimately, make the most money.

“TikTok definitely is the platform that has the most growth right now, but also has the most opportunity for virality. Just based on how your page is set up, it’s the place where even if you don’t have a massive following, you can go viral,” she said. “And these brands are constantly chasing virality, just like social media influencers are.”

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