The Financial and Consumer Services Commission of New Brunswick (FCNB) has launched The Right Recipe, a new investor education campaign targeting Millennial and do-it-yourself investors with resources designed specifically for them.
“We know this demographic is notoriously difficult to reach and can also be disinclined to take advice from a Crown corporation,” says Marissa Sollows, Director of Education and Communications at FCNB. “So, we built a campaign that stands separate from our normal channels and uses a more familiar and relatable tone and setting to build a roadmap for DIY investor protection.”
The campaign uses YouTube, TikTok and Twitter to promote a microsite and video series depicting an affable brewmaster who has learned the hard way that – just like in his craft – he should follow the right recipe when building a portfolio.
“Canadian investors in their 20s and 30s approach their finances from a different cultural perspective than their predecessors,” explains Sollows. “Research shows they are less likely to want to work with a financial advisor and want more hands-on control over their investments – but also fear that they don’t know enough about investing and are worried about losing money.”
Campaign videos serve as explainers on a variety of topics, including fad investing, multi-level-marketing schemes, influencer scams, and high-risk investment products – while reinforcing the steps investors can take to protect themselves and their money.
“As the Provincial regulator of financial markets, it is our job to ensure that consumers of financial products are well-informed about risk and have access to information and resources they can trust,” says Sollows.
The Right Recipe campaign will run until mid-February 2022, with bilingual resources available starting November 22, on most social media platforms and on therightrecipe.ca.
FCNB provides New Brunswickers with the knowledge, skills, and confidence to make informed spending and investing decisions. We inform, educate, and protect over 780,000 consumers through regulation and financial education, and we regulate 36,000 industry participants who make their living working with New Brunswickers’ money.
As the province’s financial and consumer services regulator, we are responsible for the administration and enforcement of provincial legislation that regulates securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, and more.