The purpose of this study is to examine the effect of personality types on investment management. The population of the study are all of the stockholders of Tehran Stock Exchange and also the postgraduate financial students of finance in different universities all around Iran. Structural equation modelling (SEM) is used to investigate the effect of personality traits on investment management. The sample included 131 investors and 157 postgraduate financial students. The results show that extraverts as well as those who were agreeable and open to experience were willingness to make short-term and long-term investments. Conscientious and neurotic individuals were not willing to make short-term investments and were unpredictable in long-term in-vestments. Their participation depends on their complete assessment of the reliability of the circumstances. In addition, our findings indicate that in some types of personality, practitioners and financial students have various views on their investment management.