Canada has
the highest percentage of Gen Z investors, a new study by the Financial
Industry Regulatory Authority (FINRA), a US private brokerage industry
regulator, has found. The watchdog said nearly three-quarters or 74% of
Gen-Zers based in Canada and covered by the study had at least one form of investment.
The new
study was conducted by FINRA Education, the regulator’s education arm, in partnership
with the CFA Institute, a global association of investment professionals. The
research findings are based on a November/December 2022 online survey of 2,872
Gen Zers from the US, Canada, the UK and China.
The Gen Z
investors surveyed were aged 18 – 25 at the time of the study. In addition, the
research examined millennials aged 26 – 41 and Gen X
investors aged 42 – 57 across all the regions.
Comparing
its results from these jurisdictions, FINRA noted that the United States trails
behind Canda with 56% of surveyed Gen Z investors in the former country saying they owned at least
one form of investment. The United Kingdom and China come after with 49% and 57%,
respectively.
Meanwhile,
the study also found that ‘a surprisingly large percentage’ or 56% of
zoomers in the United States own at least some investments, with cryptocurrency as their top choice.
In detail, the research noted that young investors in the country primarily invest in cryptocurrency (55%) and
individual stocks (41%).
“[Gen
Z investors in the United States] are less likely than their older counterparts to use mutual funds
and are more likely, along with millennials, to invest in crypto and
non-fungible
