The impact of professional certifications on the narratives of digital influencers in the financial sector

Abstract

This study examines the impact of professional certification on the narratives mobilized by digital influencers operating in financial markets. While research on digital influencers has advanced in analyzing engagement metrics, credibility, and authenticity, limited attention has been given to influencers producing highly technical content in regulated and information-dense contexts. An exploratory, qualitative approach was adopted, involving content analysis of 40 high-engagement Instagram posts published between March and August 2023 by four Brazilian financial influencers — two professionally certified, and two without formal certification. Findings indicate that certification does not de-termine the narrative regime employed. Both certified and non-certified influencers mobilize similar discursive strategies, alternating between relational, technical, and aspirational registers. The study’s main conceptual contribution lies in identifying a structuring axis of digital authority in financial contexts organized between two discursive validation regimes: a factual regime grounded in technical verifiability and economic plausibility, and a magical regime sustained by exceptionalism and the implicit promise of extraordinary outcomes. By shifting the analytical focus from narrative style to the mode of validation of the information presented, this article contributes to the literature on consumer behavior and influencer marketing, offering theoretical and regulatory implications for understanding digital influence in high-complexity markets characterized by information asymmetry.