Under 30s take investment advice from friends

Professional Adviser
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Around two-thirds of young investors believe it is sensible to adopt a low-risk approach, but over h...

Around two-thirds of young investors believe it is sensible to adopt a low-risk approach, but over half make financial decisions based on advice from friends. Research commissioned by Cavendish Asset Management suggests 52% of people under the age of 30 take investment recommendations and advice from their friends, and only 37% check their performance when the statement arrives. Most worryingly, almost thwo-thirds of the under-30s questioned place their investment directly in equities, yet 82% of those people have portfolios of less than £10,000. Cavendish points out that thi...

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