THE VAST majority of millennials are failing to build up an investment portfolio, according to new research.
An overwhelming 96 per cent of people aged between 25 and 34 are not looking for opportunities to invest in companies, mobile investing app Dabbl has found.
Of those ruling out an investment portfolio, 72 per cent said the process was too complicated while 62 per cent felt it was something reserved for the financial elite.
“The findings of this survey revealed the true extent of the lack of confidence, tools and know-how amongst young people in the UK when it comes to investing money,” said Dabbl co-founder and chief executive Mark Ackred.
“This is something that could have a real impact on the future of British businesses, who rely heavily on investment to grow and develop.”
However, the research also showed that just over half of millennials want to invest funds in brands, rather than relying on smart banking methods to generate a profit.
Technology brands were the most popular choice for investments with sports brands and drinks brands following after.
“The truth is, people with all ranges of income can begin building a portfolio – something that can hold them in good stead for the years to come,” said Ackred.
“It doesn’t have to be a complicated, confusing process – and we are calling upon all people in the UK who have considered dipping their toe in the world of investment to give it a go.”