Kunal Kapoor, the boss of the global research house, said Morningstar data shows many young investors have been “turned off” by the inflation-fuelled correction.
The global chief executive of research house Morningstar said the finance industry needed to cultivate the cohort of customers who began investing during the COVID-19 pandemic, or risk a repeat of the market exodus after the dotcom boom and bust.
Wealth advisers, fund managers and fintechs all had a role to play in ensuring the Robinhood generation did not suffer the same fate of a more permanent exit from market participation, he said. He also said there are no excuses for financial firms not to try to engage the next generation, given fintech tools such as micro-investing apps, which are. It is also possible for investors to buy fractional shares for as little as $1 in many markets, including Australia.
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