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Three Trends In Mass Market Investing

A 2023 investor study by Broadridge revealed three major trends in the industry:

A broader segment of the population is investing, with:

  1. Increases in the percentage of mass market investor households (<$100k in investable assets) spanning from millennials to boomers.

  2. New investors are entering the market with smaller AUM amounts, largely through online/discount channels.

  3. An increasing percentage of investors are without a college degree.

While traditional channels (broker-dealers, RIAs, and wirehouses) have remained steady,

online discount channels have seen a significant increase in usage since 2018.

  1. The percentage of both men and women using self-service online channels is growing, with nearly double the number of women today than in 2018.

  2. Women in their 30s are no longer more risk-averse than men.

Across generations, channels, wealth, and income groups, mutual fund AUM is declining with investors, now favoring holding individual equities.

To put this into action, advisors can:

  1. Consider the broader market interest in investing and how your marketing and positioning might appeal to new investors.

  2. Create positioning that makes room for online discount investing

  3. Ensure your portfolios consider the declining interest in mutual funds and speak to a growing interest in holding individual equities.

Christy Charise, Founder & CEO of Strategic Advisor



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