Young Brits aren’t researching their investments due to a lack of financial literacy and time. A recent survey from The Financial Services Compensation Scheme and the Financial Conduct Authority found that 42% of 18-24-year-old Brits who have investments say their latest investment was made while sitting in bed, watching TV, at the pub, or coming back from a night out—and were done a whim with litter research. Meanwhile, 44% of those with investments wish they’d spent more time researching before making a decision, but didn’t do so because it’s “time consuming” and “too complicated.” YPulse’s WE Personal Finance & Services Report found that 74% of 13-19-year-olds are interested in learning how to improve their financial situation, and that social media is the top financial tool / resource they’ve used for advice. Fintech brands have an opportunity to reach these young consumers with accessible education about financial literacy and investing. (FX News Group)
