Douglas Boneparth, a 36-year-old certified financial planner and adviser, is well-known in financial Twitter, together with Tesla CEO Elon Musk, cryptocurrencies, and meme stocks.
The young financial planner has used the benefits of social media to his advantage and built his platform by appealing to young people with a witty profile and account filled with memes.
Douglas Boneparth's Financial Journey
The Boca Raton-native is a second-generation financial planner, and he is currently the president of Bone Fide Wealth, a New York-based firm he founded four years ago. He is now managing $80 million worth of client assets.
Boneparth branched out after working for his father at just 19 years old and applied everything he learned to his own endeavors.
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However, when the coronavirus pandemic hit, Boneparth was stuck at home with two children, and he needed refuge, and that was when he found Twitter.
In an interview with Forbes, Boneparth said that from February to March 2020, things were really bad for him, but it was during those times that his best humor came out. He used Twitter as his outlet, and in a little over a year, his followers jumped from 39,000 to 117,000.
Overnight Sensation
Boneparth credits his social media growth to his memes and posts, and since he is running an independent firm, there were no public relations constraints.
Even before he became famous on the financial side of Twitter, he already stood out in wealth management due to his age. He was an early adopter of social media, with Facebook being his first platform.
Boneparth had put himself out there and was able to resonate with a younger client base. He used social media as a tool to gather loyal clientele, but it took him years to figure out how to best leverage it. He wrote jokes and retweeted good-humored posts. Now he is one of CNBC's financial correspondents.
However, not all of his jokes have landed. During the peak of the COVID-19 pandemic, he joined the discussion on financial Twitter about how people were spending the stimulus checks they got from the government. He joked about the returns that could have been realized if someone chose to invest the money in Tesla.
With the stress of the situation, his followers called him out, pointing out that the checks were not mean for investments but for food and necessities as the pandemic forced the world to shut down. Boneparth immediately apologized for the tone-deaf post and has not addressed the issue ever since.
Boneparth's social media celebrity status has caught his father by surprise, and his father knew about his social media fame after his father's friends told him about it. He said that while he does it for fun, he still hopes that it helps the industry and those in it to take themselves a little less seriously and loosen up.
Aside from his profile and his clients, the reputation that he cemented on Twitter has helped his book business too.
Boneparth stated that he was surprised that he was getting clients off of his Twitter fame, and he knows that they will be keeping a close eye on his Twitter feed.
This article is owned by Tech Times
Written by Sophie Webster
