Young Australians are increasingly indicating a preference for investing in global and domestic equities as a vehicle for wealth creation, says new Nabtrade research.
In the 12 months to 31 July 2017, the number of Generation Z and Generation Y investors has increased 68 per cent and 16 per cent, respectively, representing the largest cohort from either of these generations ever recorded by the company.
Nabtrade director of SMSF and investor behavior Gemma Dale said “a combination of factors” was driving the increase in the number of young people choosing to invest, including improved accessibility to the market, access to better quality research and lower price points for investing.
“We also believe parents are encouraging their kids to make good financial decisions from a younger age,” Ms Dale said.
“And, for the first time, younger investors are getting targeted service from financial institutions which understand that a growing number of Millennials want to build wealth outside of property and super.”
The data also showed increases in the number of Baby Boomer and Generation X investors of 5 and 7 per cent, respectively, indicating that share markets “remained a popular spot” for older investors as well.
The Supreme Court has ordered the winding up of Mayfair 101 entity IPO Wealth Holdings. ...
Major investor groups representing more than US$103 trillion in assets have urged companies and auditors to fully reflect the effects of cli...
A coalition of Australian financial services providers, insurers and scientists has rolled out new standards for physical risk assessment fr...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More