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If you’ve ever met her in person, Finfluencer Neha Nagar has a certain simplicity that makes us trust her. One of India’s first financial influencers, Nagar is a former wealth manager, entrepreneur and angel investor with over eight years of experience in the financial industry. Passionate about her financial literacy, she has received awards from the Government of India and various state governments for her contribution towards financial literacy. Nagar wants to make India a more financially literate society, and with 1.5 million Instagram followers, she seems to be heading in the right direction.
Known as one of the most consistent finfluencers, she has had some interesting fan experiences. “I remember one time I was attending an event when a girl named Anjali approached me. But after watching my video about its importance, she decided to change her habits a little when it comes to saving and investing. She started accumulating money and moving it directly into a savings account to avoid the temptation to spend it.It wasn’t easy at first, but she gradually developed the habit of saving. “It’s a big win for me because the savings rate of Indians is at an all-time low. If my videos make a difference, that’s very satisfying as a creator,” Nagar said.
Another time, I received a message on LinkedIn from a young software engineer who was nervous about investing. Because he had heard stories of people losing money in the stock market, he was reluctant to take risks and put his savings in low-interest savings accounts with minimal returns. In his message, he told how he came across my investing videos and was intrigued by her straightforward explanations and ability to make complex financial concepts easy to understand. Following her advice, he explored investment options, overcame his fear of investing, and understood the importance of long-term investing. Messages like these sometimes remind Nagar that he is making a difference in people’s lives.
In August this year, SEBI’s announcement regarding financial influencer regulation caused a huge stir in various places. They had proposed regulations to limit the interaction of SEBI-registered intermediaries and regulated entities with unregistered “finfluencers.” They also said it would “destroy the revenue model of such finfluencers and reduce perverse incentives within the ecosystem.”
But what do actual finfluencers think about this?
“We believe that the introduction of SEBI Regulations on Financial Influencers has brought positive changes to the industry. These regulations have helped ensure transparency, accountability and consumer protection in the field of financial advice and endorsements. Prior to the introduction of SEBI regulations, there was a lack of clarity and consistency in how financial influencers operated, leading to consumers who may have been misled by inaccurate or misleading information. One of the most important changes brought about by the SEBI regulations is the mandatory disclosure of material conflicts of interest. , meaning that financial relationships with the companies and products they promote must be clearly disclosed. This transparency allows consumers to make informed decisions about whether to trust advice and recommendations. “A specific influencer,” Nagar explained.
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