Social media misguiding Gen-Z on financial matters, warns local expert

MILWAUKEE (CBS 58) -- A recent study revealed that over 25% of Gen-Z individuals use social media as their primary source for financial wisdom, according to Drake and Associates.

Financial advisor Brad Allen from Drake and Associates highlighted the risks of relying on social media for financial advice during a Thursday, April 20 interview.

Allen acknowledged that some good advice can be found online but warned that bad advice is also prevalent. He emphasized the importance of seeking information from reputable sources and consulting with financial professionals for personalized, long-term financial planning.