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Emerging Investors: Gen Z Canadians Take the Lead in Global Investment Trends

Wealth Professional | Steve Randall | May 26, 2023

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A recent international study conducted by the CFA Institute and the FINRA Foundation focused on the investment behaviors of Gen Z individuals (aged 18-34) in Canada, the US, UK, and China.

  • The study emphasized the need for governments, regulators, and investment professionals to support Gen Z by providing them with the necessary knowledge and educational tools to make informed investment decisions. It also noted the impact of macroeconomic factors, the rise of cryptocurrency, and the influence of social media "finfluencers" on the investment habits of this cohort.

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  • The study revealed several key findings:
    • Gen Z Canadians exhibit the highest level of investing activity among the four countries surveyed, with 74% owning at least one investment product. This figure surpasses China (57%), the US (56%), and the UK (49%).
    • The fear of missing out (FOMO) was identified as the primary motivator for 40% of Canadian Gen Z individuals to start investing.
    • Access to financial advice through social media and the availability of investing apps and cryptocurrencies were identified as significant factors influencing investment decisions.
    • Cryptocurrencies served as the starting point for 35% of young Canadian investors, the highest proportion compared to the other countries.
    • The study highlighted that 79% of Gen Z Canadians began investing before the age of 21. However, 56% of non-investors cited a lack of knowledge as the main barrier to investing.
    • While Gen Z Canadians lead in many aspects, their top investing goal aligns with their international peers, with 55% aiming to save for travel or vacations. Interestingly, an equal percentage also cited paying monthly bills as their top concern.

NCFA Jan 2018 resize - Emerging Investors: Gen Z Canadians Take the Lead in Global Investment TrendsThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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