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.”
Preparing your clients to withstand the ups and downs of change – both external and internal – could be the key to unlocking their loyalty, trust, and confidence.
After leaving LPL in 2020, it hasn’t gone Cornick’s way at Osaic.
The finance professor and quant investing veteran believes with the right guardrails, artificial intelligence could be trusted to meet the high bar of fiduciary advice.
UBS has also regained some ground as it recruited an experienced Merrill advisor in New York.
The ex-Bay Area broker reportedly continued to peddle fake bond investments, promising rates of returns exceeding 20%, even after FINRA suspended his license in 2014.
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.
