Despite overestimating their own abilities to understand investing, investors are willing to learn more, potentially saving themselves from future financial pain.
Younger investors are most inclined to turn to financial advisers for help, a new global study shows.
“Millennials”, those aged between 18 and 35, indicated they are more willing to take personal advice from an investment professional: 46% of millennial investors said they would like to improve their understanding of investments by speaking to a financial adviser, compared with 41% for investors aged 36 and over.
The findings are part of a major study involving 20,000 investors from 28 countries, each with at least the equivalent of €10,000 invested, that points to a strong desire to understand more about investments.
The Schroders Global Investor Study found around nine out of ten investors wanted to improve their investment knowledge. The findings come at a crucial time for world markets, and the potential returns that may follow, given increased global political uncertainty.
The research also found disparities across regions, with more Asian investors expressing a thirst for improved knowledge than European investors. By countries, in Europe the Dutch were least likely to want to learn and Italians were keenest.
Schroders Global Investors Study 2016 found:
• 89% of investors globally want to learn more to help them understand their investments
• 94% of millennials globally would like to improve their investment knowledge
Speaking to a financial adviser remains a popular choice among investors before making an investment decision
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