Investment ads 'endorsed' by celebrities

PauletteH
PauletteH Posts: 15 Forumite
10 Posts
edited 1 June 2023 at 10:23AM in Savings & investments
Any ad featuring any well-known personality is almost certainly a scam. Natwest have compiled a league table of the most ab-used names. Dragon's Den Peter Jones tops the list, closely followed by Sir David Attenborough. Other celebrities appearing on the list include well-known business leaders and popular TV personalities, including, Piers Morgan, Jeff Bezos, Martin Lewis, and Bradley Walsh. Martin Lewis dropped to fifth in the table this year but continues to be used in a high volume of cases, despite him being very vocal that he would never endorse an investment in this way.

https://www.natwestgroup.com/news-and-insights/news-room/press-releases/financial-capability-and-learning/2023/may/dragons-den-star-exploited-by-scam-ad-criminals.html
«1

Comments

  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Rising star Ed Sheeran is one to watch.

    Martin Lewis dropped to fifth in the table this year but continues to be used in a high volume of cases, despite him being very vocal that he would never endorse an investment in this way.

    But I saw Martin Lewis advertising the Bitcoin Quantum AI Hyper Armour Trimming Make Money Now System, and if the investment was good enough to make him to change his mind about endorsements, it must be really really good!

    Natwest have compiled a league table of the most ab-used names.

    To be very pedantic, the league table actually shows the biggest amounts lost by a single customer for a given celebrity, nothing to do with how frequently they appear. Which is kind of disappointing, but on the other hand, nobody would want NatWest PR officers to spend all day clicking scam ads and noting down which celebrity is used (which isn't good for anyone's health).

  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    More of a US thing, but it is worth noting that even genuine celebrity endorsements of investments are likely to be scams.
  • TBC15
    TBC15 Posts: 1,491 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    I’m sticking with Gandhi’s recommendations and disregard the naysayers.


  • tacpot12
    tacpot12 Posts: 9,153 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    If celebrities knew anything about investments they would work in Investment Banking and not the entertainment industry! You have been warned. 
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • Stubod
    Stubod Posts: 2,513 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    ....note noted anything by Phil Scoffield yet.. :)  
    .."It's everybody's fault but mine...."
  • John464
    John464 Posts: 357 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    The most blatant one I can think of is multi-millionaire Harry Rednapp hired to promote a fake charity
    https://www.theguardian.com/society/2020/mar/08/caitlyn-jenner-harry-redknapp-accept-cash-for-supporting-fake-charity
    .. and still promoting gambling
    Gary Lineker has come in for some criticism for advertising junk food (crisps) but Lineker draws the line at promoting gambling
    Yet Rednapp is still a celebrity hired by the BBC
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    John464 said:
    The most blatant one I can think of is multi-millionaire Harry Rednapp hired to promote a fake charity
    https://www.theguardian.com/society/2020/mar/08/caitlyn-jenner-harry-redknapp-accept-cash-for-supporting-fake-charity
    .. and still promoting gambling
    Crypto as well. I don't get the sting though. The celebrities were willing to take money to promote a product? Um... yes, well done? (They should of course disclose that they are paid, but the lack of #ad hashtags doesn't seem to justify the tone of outrage.)
    Charities make billions a year, celebrities are as entitled to be paid for their work for them as the fundraisers on the phonelines or the CEO.
  • John464
    John464 Posts: 357 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    edited 2 June 2023 at 2:13PM
    John464 said:
    The most blatant one I can think of is multi-millionaire Harry Rednapp hired to promote a fake charity
    https://www.theguardian.com/society/2020/mar/08/caitlyn-jenner-harry-redknapp-accept-cash-for-supporting-fake-charity
    .. and still promoting gambling
    Crypto as well. I don't get the sting though. The celebrities were willing to take money to promote a product? Um... yes, well done? (They should of course disclose that they are paid, but the lack of #ad hashtags doesn't seem to justify the tone of outrage.)
    Charities make billions a year, celebrities are as entitled to be paid for their work for them as the fundraisers on the phonelines or the CEO.
    Fundraisers on the phonelines probably need the money as their only income, Rednapp doesn't.
    Gambling ruins many lives, which is why the likes of Gary Lineker have turned down £millions to promote it.
    But what I find most shocking is Rednapp promoting a charity that doesn't exist.
    Which shows the value of some celebrity endorsements, which is the subject of this thread.
  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 3 June 2023 at 12:43PM
    PauletteH said:
    Any ad featuring any well-known personality is almost certainly a scam. Natwest have compiled a league table of the most ab-used names. Dragon's Den Peter Jones tops the list, closely followed by Sir David Attenborough. Other celebrities appearing on the list include well-known business leaders and popular TV personalities, including, Piers Morgan, Jeff Bezos, Martin Lewis, and Bradley Walsh. Dropped to fifth in the table this year but continues to be used in a high volume of cases, despite him being very vocal that he would never endorse an investment in this way.

    https://www.natwestgroup.com/news-and-insights/news-room/press-releases/financial-capability-and-learning/2023/may/dragons-den-star-exploited-by-scam-ad-criminals.html
    Jeff Bezoss, Peter Jones for instance, their wealth are mainly coming from successfully managing their own business. Martin Lewis is a money saving expert, I understand he himself has never claimed to be an investment expert. Similarly to Sir David Attenborough.  Piers Morgan
    All of these people are not making majority of their wealth by investing in the stock markets, ETF, Funds, picking up the right stocks, etc. Their skills are different.
    You want to be Jeff Bezoss, Elon Musk, Bill Gates, Mark Zuckerberg you will need to be reborn as a titan, genius, has a business talent, willing to take risk in their life and enhanced with luck, It is probably doable for those who believe in reincarnation and the future development of gene editing.
    IMO the common sense approach is that if you want to make make money by investing in the stock market, bond market following those named people; it is not a proper route unless you have resources, skills, talents, lucks that could be copied and is replicable to you.
    If you want to make money in the stock market, Bond market, a more sensible approach is better to learn from people who have proven track records, have been successful applying their skills, strategies in the stocks/bods market and choose the style of investing suitable to you. These are examples:
    Howard Marks - Distressed debt and companies
    Peter Lynch - Large Diverse Growth Portfolios
    Warren Buffett - Value Investing
    Banjamin Graham – Father of Value Investing
    Charlie Munger – Concentration
    Stanley Druckenmiller - Big macro beta
    Ray Dalio - Asset diversification
    Michael Burry - Macro Options, shorting assets
    Jim Simons – Quant (Algol trading)
    Nathan Rothschild: Devoted contrarian
    Follow and listen more to these guys who have a proven track records of making money in the stock money, not random people from the internet. This is not to suggest blindly following them without considering their circumstances and your circumstances.
    Some people think,  you are not a billionaire, not even a millionaire, to benefit learning form these people, but keep in mind
    - Those people were not born as a millionaire.
    - Those people share their knowledge, their advice to ordinary investors, their stock picks in public for free in CNBC, Bloomberg, Yahoo Finance, CNN Finance, other reputable investing channels, sites, etc., A few of them are even writing books for advice to ordinary investors.
    - Also it is rescalable. There are fractional shares / ETFs. There are percentage that could be applied as small as you would like to have.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 349.8K Banking & Borrowing
  • 252.6K Reduce Debt & Boost Income
  • 453K Spending & Discounts
  • 242.8K Work, Benefits & Business
  • 619.5K Mortgages, Homes & Bills
  • 176.4K Life & Family
  • 255.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.