TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth The garden guru The modern investor, much like a backyard gardener, often finds themselves tangled in a web of well- intentioned but ultimately flawed decisions. My wife and I recently spent an entire weekend debating the merits of various garden-related forums, attempting to discern the perfect method for pruning a number of shrubs around the house. I found myself drawn to a particular online community that espoused a radical "no-pruning" philosophy, believing that nature knows best (the amount of work involved was a significant attraction). Liz, ever the pragmatist, pointed out that this advice was coming from a user whose profile picture was a blurry photo of what appeared to be a dead stick with one sad, shrivelled leaf. I, of course, argued that we needed to challenge our "preconceived notions" and "think outside the box." My argument was promptly dismissed. This is a scenario that plays out in the world of finance on a daily basis, only the stakes are considerably higher than a few dead bushes. The internet, a vast repository of both wisdom and utter nonsense, has given rise to a new breed of financial guru: the social media influencer. These online personalities, often armed with little more than a smartphone and a strong opinion, dispense investment tips and hot takes with the same casual abandon as a friend recommending a new TV show. They promise untold riches, painting a picture of effortless wealth and overnight success. Their followers, in turn, are often drawn in by the allure of an easy win, much like my brief but passionate belief in the "no-pruning" theory. However, the world of investing is far more complex than a few hashtags and viral videos. Following a "hot tip" from a stranger online is akin to building a house on a foundation of sand. It may look solid for a while, but it will inevitably crumble under the weight of reality. The anonymous online "expert" has no fiduciary duty to you; they are not required to understand your financial situation, risk tolerance, or long- term goals. Their advice is a one-size-fits-all solution in a world that requires a tailored approach. Just as a garden needs continuous, careful attention, so too does your financial plan. A little work now, based on sound research and professional guidance, can save a lot of heartache and financial ruin later on. Don't let a social media "expert" lead you down a garden path that ends in a flurry of tears and recriminations. BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1, 462-464 Peel St, Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account. You are advised not to act on anything contained herein, or discussed as a consequence of the contents of this document, without receiving financial advice from a suitably qualified person such as a financial planner, lawyer or accountant. Follow us on Twitter @BaiocchiGriffin Find us on f Facebook facebook.com/BaiocchiGriffin Private Wealth www.bgprivate wealth.com.au 3093 TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth The garden guru The modern investor , much like a backyard gardener , often finds themselves tangled in a web of well- intentioned but ultimately flawed decisions . My wife and I recently spent an entire weekend debating the merits of various garden - related forums , attempting to discern the perfect method for pruning a number of shrubs around the house . I found myself drawn to a particular online community that espoused a radical " no - pruning " philosophy , believing that nature knows best ( the amount of work involved was a significant attraction ) . Liz , ever the pragmatist , pointed out that this advice was coming from a user whose profile picture was a blurry photo of what appeared to be a dead stick with one sad , shrivelled leaf . I , of course , argued that we needed to challenge our " preconceived notions " and " think outside the box . " My argument was promptly dismissed . This is a scenario that plays out in the world of finance on a daily basis , only the stakes are considerably higher than a few dead bushes . The internet , a vast repository of both wisdom and utter nonsense , has given rise to a new breed of financial guru : the social media influencer . These online personalities , often armed with little more than a smartphone and a strong opinion , dispense investment tips and hot takes with the same casual abandon as a friend recommending a new TV show . They promise untold riches , painting a picture of effortless wealth and overnight success . Their followers , in turn , are often drawn in by the allure of an easy win , much like my brief but passionate belief in the " no - pruning " theory . However , the world of investing is far more complex than a few hashtags and viral videos . Following a " hot tip " from a stranger online is akin to building a house on a foundation of sand . It may look solid for a while , but it will inevitably crumble under the weight of reality . The anonymous online " expert " has no fiduciary duty to you ; they are not required to understand your financial situation , risk tolerance , or long- term goals . Their advice is a one - size - fits - all solution in a world that requires a tailored approach . Just as a garden needs continuous , careful attention , so too does your financial plan . A little work now , based on sound research and professional guidance , can save a lot of heartache and financial ruin later on . Don't let a social media " expert " lead you down a garden path that ends in a flurry of tears and recriminations . BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1 , 462-464 Peel St , Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account . You are advised not to act on anything contained herein , or discussed as a consequence of the contents of this document , without receiving financial advice from a suitably qualified person such as a financial planner , lawyer or accountant . Follow us on Twitter @BaiocchiGriffin Find us on f Facebook facebook.com/BaiocchiGriffin Private Wealth www.bgprivate wealth.com.au 3093