“The retail investment industry continued to experience strong growth in 2021, as an influx of first-time investors made their way into the market. While some may lose interest in investing because of current economic factors, such as rising inflation, there are still opportunities for brands to attract new-to-market investors. Fractional share ownership, micro-investing apps, and hybrid robo-advisory models are just some of the innovations driving the market currently, and providers need to improve the awareness of these innovations to tear down the misconception of one needing large amounts of money to begin investing.”
Amr Hamdi, Finance Analyst

This Report discusses the following key topics:

  • Investment products consumers own
  • Reasons for investing
  • Channels used for investing advice
  • Most important factors in choosing an investment platform
  • Attitudes towards investing

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Market context
        • Executive Summary

            • Top takeaways
              • Age is a significant factor in investment participation
                • Figure 1: Investment product ownership, by generation, 2022
              • Leveraging rewards to retain the business of affluent customers looking for investment management
                • Figure 2: Use of financial advisors, by household investable assets, 2022
                • Figure 3: Bank of America Preferred Rewards, 2022
              • YouTube, Facebook, and Instagram are the top social media channels for investing advice
                • Figure 4: Social media channels used for investing advice, 2022
                • Figure 5: Humphreytalks TikTok, 2021
              • Market overview
                • Figure 6: Consumers and Investing outlook, 2022-27
              • Opportunities and challenges
                • Investors have a tough 2022 to navigate amid the current economic climate
                  • A social media strategy remains critical to reach newer and younger investors
                  • Key consumer insights

                    • 68% of adults own at least one type of investment
                      • Figure 7: Any investment product ownership, by gender, generation and household income, 2022
                    • Women are significantly less likely to hold any investments
                      • Figure 8: investment product ownership, by gender, 2022
                      • Figure 9: Attitudes toward investing, by gender, 2022
                      • Figure 10: National Bank of Canada paid Facebook ad, 2022
                      • Figure 11: Chase paid Facebook ad, 2022
                  • Market Factors

                    • Consumer confidence sinks to lowest level in more than 10 years
                      • Figure 12: Consumer Sentiment Index, 2007-22
                      • Figure 13: Consumer Price Index change from previous period, 2007-22
                      • Figure 14: Unemployment and underemployment, 2007-22
                    • President Biden issues an Executive Order calling for the examination of the risks and benefits of cryptocurrency
                      • Figure 15: Attitudes toward cryptocurrency, 2022
                    • NYC hosts the city’s first NFT vending machine
                      • Figure 16: Neon NFT vending machine, 2022
                  • Competitive Strategies and Market Opportunities

                    • Fidelity enticed new investors with their Starter Pack
                      • Figure 17: Fidelity starter pack, 2022
                    • continues to find its footing in the sports world
                      • Figure 18: UFC fan bonus, 2022
                    • MassMutual highlighted the human touch in retirement planning
                      • Figure 19: MassMutual paid Facebook ad, 2022
                    • How advisors can target the new wave of investors through social media
                      • Figure 20: Sources of investing information, by generation, 2022
                      • Figure 21: TikTok lawyer example, 2022
                  • Fast Facts

                    • Investor Profile

                      • 23% of consumers are first-time investors, while over half are seasoned investors
                        • Figure 22: Investing experience, 2022
                      • First-time investors skew significantly younger
                        • Figure 23: Investing experience, by age, 2022
                    • Product Ownership

                      • Mutual funds, individual stocks are the most owned investment products
                        • Figure 24: Investment product ownership, 2022
                        • Figure 25: investment product ownership, by household investable assets, 2022
                      • First-time investors gravitate towards riskier assets, while seasoned have more conservative holdings
                        • Figure 26: investment product ownership, by investing experience, 2022
                    • Barriers to Investing

                      • Fractional shares can help overcome the barriers of having limited capital to invest
                        • Figure 27: Barriers to investing, 2022
                      • Lack of knowledge is most prevalent among younger segments as a reason for not investing
                        • Figure 28: Barriers to investing, by generation, 2022
                        • Figure 29: Acorns email, 2022
                    • Reasons for Investing

                      • Long-term gains the main motive for over half of investors
                        • Figure 30: Reasons for investing, 2022
                      • …but ambitions change depending on investing experience
                        • Figure 31: Reasons for investing, by investing experience, 2022
                        • Figure 32: Reasons for investing, by age, 2022
                    • Sources of Investing Information

                      • Financial advisors are used by 43% of consumers for investing advice
                        • Figure 33: Sources of investing information, 2022
                      • Younger generations more likely to lean on social media and friends as sources for investing advice
                        • Figure 34: Sources of investing information, by generation, 2022
                    • Channels Used to Manage Investments

                      • 37% use self-directed brokerage accounts to manage their investments
                        • Figure 35: Channels used to manage investments, 2022
                      • Younger consumers more likely to use robo-advisors to manage their investments
                        • Figure 36: Use of robo-advisors for investing, by age, 2022
                        • Figure 37: Ally invest, 2021
                    • Factors in Choosing an Investment Platform

                      • Brand reputation, fees the biggest factors considered when choosing an investment platform
                        • Figure 38: Factors influencing choice of investment platform, 2022
                      • Millennials place a strong importance on digital features, while older generations focus on fees and reputation
                        • Figure 39: Factors influencing choice of investment platform, by generation, 2022
                    • Interest in New Investments

                      • Besides stocks, interest in new investment categories is wide-ranging
                        • Figure 40: Interest in new investment types, 2022
                      • Gen Zers most interested in crypto and fractional share ownership
                        • Figure 41: Interest in new investment types, by generation, 2022
                        • Figure 42: Charles Schwab paid Facebook video, 2022
                      • Affluent investors are also open to niche investment categories
                        • Figure 43: Interest in new investment types, by household investable assets, 2022
                        • Figure 44: Fundrise, 2022
                    • Attitudes toward Investing

                      • Over half remain hesitant on investing, rather preferring to keep their money in a checking/savings account
                        • Figure 45: Investing risk tolerance, by household investable assets, 2022
                      • 84% of consumers believe inexperienced investors should seek professional advice
                        • Figure 46: Attitudes toward professional investing advice, by age, 2022
                      • Most still consider crypto too risky to invest in, while over a third would use it as a payment method
                        • Figure 47: Attitudes toward cryptocurrency, 2022
                        • Figure 48: Club 1 Hotels crypto email, 2022
                      • 57% would pay a premium for a human advisor over a robo-advisor
                        • Figure 49: Attitudes toward robo-advisors, by income, 2021 and 2022
                    • Appendix – Data Sources and Abbreviations

                      • Data sources
                        • Consumer survey data
                          • Marketing creative
                            • Abbreviations and terms
                              • Abbreviations

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