America’s core working age cohort of investors has shown the most confidence in being able to manage the ups and downs of the market according to a new study.
Almost half of millennials (46%) who took part in the Heart & Wallets survey said they are comfortable with market volatility, beating boomers (24%). However, the youngest group, Gen Z investors, have lost confidence in this regard, with just 28% saying they felt comfortable in 2023, compared to 43% last year.
The firm’s study "7 Attitudinal Trends for Investing in 2024" found that overall confidence in investing has reached 31% among all households polled, the highest level since the study was first conducted in 2011.
There has also been an increase in receptiveness to financial advice, especially among millionaire households. But while one-third of respondents see the value in paying for financial advice, they are split on whether robo-advisors or human advisors are better.
Having an emergency fund is seen as important to financial wellness with 52% of poll participants citing this as their top savings and investment goal, despite almost six in ten saying they are working towards three or more goals, and one-quarter having six or more goals.
Inflation remains a top concern among investors and savers (44%), but one in five are most concerned about the ability of loved ones to manage their finances as they age.
More than one-third of respondents want to bank and invest with the same firm, and a similar share wants to know about the fund managers behind their investments, whether they manage their own investing or have help from a financial professional.
“How firms execute on these 7 trends depends on their business objectives, current capabilities and competitive strengths,” Laura Varas, founder and CEO of Hearts & Wallets, said in a statement. “Optimal long-term strategy for growth should reflect how these trends play out for specific customer targets and distribution channels.”
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
