One quarter of young people now turn to social media for financial guidance

25% of 18-24 year old banking customers use social media for financial guidance; One in five (20%) of this age group have invested money based on social media recommendations; Yet, 33% of this age group are not confident in their financial knowledge to take out investment products. More young people are turning to social media rather than their bank for financial guidance, according to new research from Deloitte.