Millennials get taste for adventurous investing
As interest rates flat-line and inflation starts to soar, a new tribe of investors is fast emerging: the adventurous millennials.
Digital trading platforms are reporting a marked increase in the number of active young investors using their services. The Share Centre, for example, has reported a 16 per cent year-on-year rise in the number of trades occurring in tax-efficient ISAs held by millennials.
It points to a quiet revolution in how young people are managing their money. Fed up with bad savings rates and adverse economic headwinds, many millennials are taking matters into their own hands and using their smartphone to find - and manage - riskier investments.
Gonçalo de Vasconcelos, co-founder of equity investment platform SyndicateRoom, said: “Many young people are having to look at alternative routes to get the capital growth they need to reach their financial goals in today’s low-yield economic environment. As part of this move, many are willing to take on additional risk in order to meet their goals.”
Read the full article here.