Neha Nagar: The Trusty Finfluencer Known as one of the most consistent finfluencers, she does have some interesting fan experiences.
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If you've met her in person, there is a certain simplicity in finfluencer Neha Nagar which makes us trust her. One of the first finance influencers in India, Nagar is a former wealth manager, entrepreneur and angel investor with over 8 years of experience in the finance industry. Passionate about financial literacy, she has been awarded by the Government of India and various state governments for her contributions to financial literacy. Nagar wants to make India a more financially literate society, and with 1.5 million Instagram followers, she seems to heading in the right direction.
Known as one of the most consistent finfluencers, she does have some interesting fan experiences. "I remember I was at an event when a girl called Anjali approached me. She told me that she has always been a spender and would often indulge in impulse purchases and struggle to save money. However, after watching one of my videos on the importance of saving and investing, she decided to make a small change in her habits. Anjali started setting aside a small amount of money every time she received her pay check and would transfer it directly into a savings account to avoid the temptation of spending it. At first, it wasn't easy, but she gradually got into the habit of saving. For me, it is a great win because saving among Indians is at an all-time low. If my video makes a change, then it is very satisfying as a creator," Nagar told us.
At another time she got a message on LinkedIn from a young software engineer, who was apprehensive about investing. He had heard stories of people losing money in the stock market and was hesitant to take any risks, keeping his savings in a low-interest savings account, earning minimal returns. In his message he narrated how he came across my videos on investing and was intrigued by her straightforward explanations and her ability to make complex financial concepts easy to understand. Following her advice he to explore investment options, overcoming his fear of investing and understand the importance of long-term investing. Messages like these make Nagar realize from time to time the difference she is making in people's lives.
In August this year, the announcement by SEBI regarding regulations on financial influencers had caused quite a stir all over. They had proposed regulations to restrict the association of SEBI-registered intermediaries or regulated entities with unregistered 'finfluencers.' They had also stated that they would "disrupt the revenue model for such finfluencers, so that the perverse incentives in the ecosystem reduce."
But what are the views of an actual finfluencer regarding this?
"I believe that the introduction of SEBI regulations regarding financial influencers has brought about a positive change in the industry. These regulations have helped to ensure transparency, accountability, and consumer protection in the realm of financial advice and endorsements. Prior to the SEBI regulations, there was a lack of clarity and consistency in the way that financial influencers operated. This often led to confusion and potential harm for consumers, who may have been misled by inaccurate or misleading information.One of the most significant changes brought about by the SEBI regulations is the mandatory disclosure of material conflicts of interest. This means that financial influencers must now clearly disclose any financial relationships they have with the companies or products they promote. This transparency allows consumers to make informed decisions about whether or not to trust the advice or endorsements of a particular influencer," Nagar explained.