Coronavirus pandemic spurs rise in first-time investors – ZAWYA

Coronavirus pandemic spurs rise in first-time investors – ZAWYA

Coronavirus pandemic spurs rise in first-time investors | ZAWYA MENA Edition HomeWealthWealth ManagementArticleCoronavirus pandemic spurs rise in first-time investors Millennials dominate new account openings, says GlobalData    NYSE-AMEX Options floor trader Luis from TradeMas Inc.works in an off-site trading office built when the New York Stock Exchange (NYSE) closed, due to the outbreak of the coronavirus disease (COVID-19), in the Brooklyn borough of New York City, U.S., March 26, 2020. Wealth managers have an opportunity to reach out to new investors, as the COVID-19 pandemic has spurred an increase in financial markets volatility, a new report showed.According to data and analytics company GlobalData, investment platforms are reporting a strong rise in the number of customers opening new accounts, and many of these entrants are first-time investors."While risk is not an objective measure but dependent on a wide variety of factors, such as experience, education and current circumstances, there is a clear correlation between age and risk aversion, and our proprietary risk index shows that younger consumers are notably less cautious,“ Heike van den Hoevel, senior wealth management analyst at GlobalData said.According to data and analytics company GlobalData, investment platforms are reporting a strong rise in the number of customers opening