Abstract
Investment advice is changing to incorporate new products and platforms, and the rate of change is likely to accelerate as millennials and Gen Z increase their involvement in investment markets. Using survey methodology, we examine the changing landscape of risk tolerance for young people, concluding that the typical risk assessment tools advisors use may not be as applicable to the next generation of investors. We find that the components that drive willingness to take risk are interest in investments, self-reported investment risk tolerance, and ownership of investment accounts. Our findings indicate that it is time to start assessing risk differently.1,2,3
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