July 16, 2018 11:30
A study of the securities Commission of Ontario (CSO) reveals that the milléniaux Ontario face significant obstacles to investment. The study also notes the ways in which the industry stakeholders can develop and refine the products, programs and services to meet the needs of young people.
“Our results indicate that the milléniaux Ontario feel overwhelmed by investment and do not know where to start,” says Tyler Fleming, director of the office of the investor OSC. We hope that the report will facilitate the development of products and services that meet the needs of young investors and promotes innovation and efficiency in the financial markets. “
Overwhelmed by the different options
The CSO says that his study demonstrates that ” many of the milléniaux are at a stage of life where it is difficult to imagine its future, are often compared to their peers and are overwhelmed by the many options to know where to start and do not have enough opportunities to practise their skills in investment.”
The study identified six key principles that stakeholders could consider to hang milléniaux, including helping them to find their motivation unique to invest in, and offer custom steps and achievable goals that allows them to start more easily and demonstrate a clear vision of the future consequences of their decisions. The CSO also suggests to make social comparisons relevant to what others are doing, to create opportunities for experiences to be of low risk to build trust and win the confidence of the milléniaux by placing their needs first.
Led by Upside Consulting Group in collaboration with the CSO, the results of the study are based on nearly 30 hours of interviews with milléniaux ontarians between the ages of 18 and 36 years of age, as well as a review of the literature in behavioral sciences and canals existing investment available for generation Y.