There’s no denying that the financial advice landscape has shifted – and continues to shift rapidly.

Traditional mediums of advice no longer seem to be the norm, with advisers competing with finfluencers, social media, and artificial intelligence.

In an increasingly tech-driven world where financial advice seems to be at our fingertips, an unlikely new competitor has emerged: Reddit.

The online platform, famous for its vast array of communities, seems to be a bustling hub of financial discussion, investment strategies, and success stories.

In this article, we explore the reasons behind this shift and how advisers can learn from this redefinition of financial advice – as well as how to keep up.

What is Reddit?

Reddit is a 20-year-old American forum social network used worldwide. It’s an online platform consisting of a network of communities and discussion forums for registered users to talk about any passion, hobby or interest.

Research shows that Reddit has 101 million daily active users1, with thousands of active subreddits to engage with. Visitors can stay informed with current events, freely seek information, and anonymously engage with niche communities.

woman checking her messages on the phone

Who is using Reddit?

The majority of Reddit users are based in the United States2, with most overall users being young people aged between 18 and 29.3 Most users are also male, accounting for nearly 60% of its audience.4

The average time spent on Reddit is around 20 minutes per session5, and research also shows that the platform is expected to experience continuous growth in the coming years.6

This suggests that Reddit usage shows no signs of slowing down, and the fast-growing platform is popular with potential Millennial and Gen Z investors.

Where does financial advice come into it?

There’s no denying that young investors are increasingly turning to social media for financial advice.

There’s an argument that both Millennials and Gen Zers have an exacerbated interest in personal finances, thanks to increasing student loan debt, inflation rates and house prices – but would rather turn to forums than traditional mediums for advice. Check out our article on what Gen Z wants from financial advice for more insights.

Reddit is accessible to anyone with an internet connection, offering free, unsolicited advice at your fingertips from across the world. It’s inclusive, in comparison to paid-for financial advice that some younger generations may perceive as unaffordable or inaccessible.

The platform aggregates a diverse range of opinions and experiences through forums that are easy-to-use, and without financial jargon or alienating language. Users might easily identify with other users that have relatable stories to them, too.

Users can also ask questions anonymously – without fear of judgement or identification. It could provide emotional support and discussion through that community feel – perhaps making financial advice feel less intimidating or exclusive.

Reddit also gives real-time updates on stock market movements in relevant forums, keeping the platform relevant, and trending.

male in t-shirt working from office looking at images on sheets of paper

What are the drawbacks to using Reddit for financial advice?

Of course, the platform isn’t regulated, meaning there’s a risk of misinformation or biased advice.

Novices with poor financial literacy may not be able to identify a scam, or not know to get a second opinion, and look for evidence that a certain investment is lucrative. Unlike financial advisers, Reddit contributors are not required to prove their expertise – so it’s all speculative.

Investors could act with so-called ‘herd mentality’ and competition due to the sheer number of users on Reddit. This could lead to rash, under-researched decisions where users may make emotional, impulsive or pressurised investment choices.

It could be that readers are also overloaded with information, making it difficult to determine valuable insight from noise and irrelevance.

And, in the opposite to financial advice, Reddit isn’t personalised, either – so what works for one, doesn’t work for all financial circumstances or situations.

How can advisers keep up with Reddit?

By keeping a finger on the pulse of discussions within subreddits (like r/invest and r/investing), advisers can gain valuable insights into emerging trends, movements, client sentiment, and popular stocks or assets.

Advisers could then leverage these insights into their traditional business models, attracting younger investors from an earlier age. Check out our article asking if your marketing strategy is fit for a rapidly changing world for more information.

In the same breath, advisers may like to encourage clients to adopt a hybrid model when it comes to financial advice. They could advise clients to research and balance online insights with professional guidance to make sure that they’re making sound investment decisions, all while protecting themselves against risks, or scams. This could help build long-lasting relationships based on trust and personalised advice.

By actively engaging with Reddit, advisers could position themselves not only as experts, but also as accessible allies that adapt to the ever-evolving world of investment. Education and continuous learning is key, so you may want to check out our article on finfluencers and how to keep up with the changing face of financial advice.

It seems that tech and social media platforms like Reddit are prompting a more diverse range of investors through information that is easily accessible, easy to understand, and relatable. You might like to read our article on how AI could impact financial advice, too.

Reddit is growing as a source of investment advice so it’s important to understand the implications for your clients, potential future investors and financial advisers – as well as how you can make it work for you.

Reddit Inc. quarterly DAU by region 2024 | Statista. Data source: Statista. February 2025.

2  Reddit.com desktop traffic share 2024 | Statista. Data source: Statista. November 2024.

U.S. Reddit reach by age group 2024 | Statista. Data source: Statista. February 2025.

4 Global Reddit user distribution by gender 2024 | Statista. Data source: Statista. February 2025.

Global time spent on Reddit.com 2024 | Statista. Data source: Statista. May 2024.

Global: Reddit users 2019-2028 | Statista. Data source: Statista. March 2025.

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