A Tech-Savvy and Values-Driven Demographic
Millennials, those born between 1981 and 1996, now number more than 71 million in the U.S., surpassing Baby Boomers. As millennials enter their prime earning and investing years, they are reshaping Wall Street through preferences for:
• Digital and mobile investing platforms
• Automated and “robo” investing tools
• Socially responsible and ethical investing focused on environmental, social and governance (ESG) factors
Millennials have grown up with technology and expect investing to be easy, convenient and digital.
This has fueled the rise of:
- Online and mobile-first investing platforms like Robinhood, Acorns and Betterment
- Automated and algorithm-based investing tools like robo-advisors
- Thematic and factor-based investing focused on areas like artificial intelligence, robotics and biotechnology.
The Rise of Socially Responsible Investing
Millennials care deeply about social and environmental issues and want their investments to align with their values.
• Rapid growth of ESG investing focused on companies with strategies that address issues like climate change, diversity and data privacy.
- Impact investing that seeks to generate financial returns while also creating positive social or environmental impact.
- Thematic investing focused on solutions to global challenges like renewable energy, sustainable food, and access to healthcare.
- Increased Mobile Gaming
- Mobile gaming has grown significantly and now accounts for over 50% of the global gaming market. Mobile gaming is appealing due to its low cost, convenience and ability to reach mass audiences.The mobile gaming market is expected to grow to $209.12 billion in 2026 at a compound annual growth rate (CAGR) of 15.77%
- Emergence of eSports
The growth of competitive video gaming or eSports has extended the popularity and audiences of games like League of Legends, Dota 2 and Fortnite. eSports now generates billions in revenue and has dedicated streaming platforms.
Implications for Financial Advisors
For wealth and asset managers to attract millennial clients and assets, they will need to adopt:
• Digital strategies that integrate with clients’ mobile devices and lifestyle
• Automated investing tools to supplement traditional advisory services
• Broader ESG investment strategies and impact investing opportunities
• Transparent fee structures and advice tailored to millennials’ desire for financial wellness over wealth accumulation.
How are Millennial Investment Habits Different?
Investing was once only accessible to the wealthy who could afford a private stockbroker. However, the rise of telephone trading and execution-only services began to democratize investing.
Now, digital transformation is further leveling the playing field. With online exchanges, nearly anyone can easily invest in stocks, bonds, forex and cryptocurrencies – even those with lower incomes. Younger generations in particular have embraced this self-directed approach.
Millennials and Gen Z tend to prefer managing their own portfolios over relying on traditional financial advisors. For them, platforms that enable investing with just a smartphone and an internet connection represent an attractive alternative to costly advisory services. By allowing investors to make trades for as little as no commission, these fintech solutions have enabled millions of novice investors to participate in global financial markets for the first time.
The online investing revolution may be fast tracking younger generations through the rite of passage of taking charge of their own finances. By making investing more accessible, convenient and affordable, digital disruptors are reshaping how people – especially millennials and Gen Zers – build wealth for the future.
Millennials Spend More Time Playing Video Games Than Gen Z and Teens, New Study Finds
Millennials represent a major opportunity for gaming companies according to a new report. The report found that not just teens but also older generations like millennials are spending more time gaming.
- Millennials spend more time gaming than both teens (Gen Z) and Gen Zers.
- 52% of millennials surveyed ranked playing video games as their top interest.
- 40% of millennials spend over 22 hours per week gaming – higher than any other age group. Only 29% of tweens (teens) spend that much time gaming.
- Overall, older generations of players ages 25 to 44 are spending more hours per week gaming compared to last year.
The report concludes that millennials, as the largest generation, represent an untapped market for video game companies. More than teens or Gen Z, millennials’ gaming behaviors indicate they are committed and engaged players with significant time to devote to gaming.
Despite stereotypes of gaming as a teen-focused activity, the findings show millennials are avid gamers who represent a major growth opportunity for game publishers if they can provide content and experiences that appeal to this generation.
In short: millennials spend more time gaming than other age groups and indicate they have the potential to become loyal, high-value customers for video game companies – if those companies make the effort to attract and serve this generation of players.
Millennials and Gen Z have grown up with easy access to information through the Internet. They feel comfortable being self-directed investors and see less value in traditional financial advice.
Digital investment platforms are lowering the barrier to entry for investing, opening up more opportunities for younger investors. But established institutions often don’t understand millennials’ focus on social and environmental impact.
What millennials want from investing:
- Digital first solutions like apps and automated services for simplicity and convenience.
- The ability to build portfolios aligned with their values.
- Access to newer industries focused on emerging technologies.
How platforms reach millennials:
- Mobile apps, social media accounts and multimedia content instead of long reports.
- Less formal and “stuffy” branding.
- Sponsorship deals with youth-focused sports like football and motorsports.
In summary, millennials prefer self-directed investing enabled by digital tools. Financial institutions are adapting their offerings to remain relevant to this new generation of investors through mobile-first, values-aligned and more transparent solutions.
Top Video Gaming Stocks to Watch in 2023
Top gaming stocks
- Zynga (ZNGA) …
- Huya Live (HUYA) …
- Take Two Interactive Software (TTWO) …
- Bilibi (BILI) …
- Glu Mobile (EA) …
- Nexon (3659) …
- Cheetah Mobile (CMCM) …
- Tencent (0700)
Popular Video Game Stocks
Nintendo is known for its family-friendly gaming consoles like the Switch and Nintendo DS as well as popular gaming characters like Mario, Zelda, and Pokemon. The company has a market cap of over $60 billion.
Factors Driving Growth in the Gaming Industry
develops and publishes free-to-play mobile games using its technology platform. The Israel-based company targets the mobile gaming market.
supplies gaming terminals and software to the gambling industry. The technology company reported $3 million in profit on $79 million in revenue for the last quarter, changing from a $1 million loss the previous year.
Activision Blizzard (ATVI)
Activision Blizzard creates and publishes popular video games like Call of Duty, World of Warcraft, and Candy Crush. The company has a market capitalization of over $50 billion and has experienced strong growth from its popular gaming franchises.
Millennials are the largest living generation and are bringing enormous change to investing through preferences for digital technologies, automated investing and socially conscious investing.
Wealthy millennials in particular have shown a greater interest in alternative investments such as real estate, commodities and private equity, according to the 2023 Bank of America Private Bank Study of Wealthy Americans.