Letters: Blackrock, paper, scissors
[Re: BlackRock enters the TikTok fray with ‘financial wellness’ account, Feb 4]
Blackrock, the world’s biggest asset manager has decided to join Tik Tok, to give advice to people on “financial wellness”. This sort of performative “up with the kids” attitude is not unsurprising, but it is problematic.
The more the big names jump onto trends like Tik Tok, the more the platforms can be abused to give people dodgy financial advice. Blackrock’s presence of the platform means other “financial advisers” using the platform will be able to claim a level of legitimacy they would not have otherwise been able to.
The global chief marketing officer said they were looking to Tik Tok because they want to entice “the next generation of investors”.
This is typical of Blackrock that has always tried to paint itself as a cutting edge asset management firm. But ultimately, these things need to be done with consideration. It is possible to reach out to young people without necessarily playing by their rules (or on their apps).
It smells a little like a dad trying to use “lol” in an attempt to say “lots of love” rather than “laugh out loud”.
[Re: Downing Street in turmoil, Feb 4]
It’s time to level up No10 and move Boris Johnson out.