The PIMFA Under 40 Leadership Committee (U40LC) is an exciting initiative that brings together your talented young people from across our member firms. These future leaders work together in a dedicated community to learn and collaborate with their peers, and also to conduct primary research focusing on current hot topics impacting us all across our industry.
The U40LC contributes to the strategic thinking of PIMFA and has been operating in one form or another for over 6 years – creating a plethora of useful insights and research, alongside a network of alumni they can rely on in their future careers.
In 2023 the committee are investigating a range of fascinating topics such as female access to the industry, the great wealth transfer and inheritance, the impact of ‘finfluencers’ and the role of social media, and how to encourage and excite a new generation of investors.
This years cohort are well underway with their research and their report will be released in October 2023.
DOWNLOAD THE REPORT TO FIND OUT KEY INSIGHTS ON ESG AND TECHNOLOGY SUCH AS:
- 81% of people across all generations rate ESG factors as either ‘very important’ or ‘important’ drivers of their investment decisions.
- Feelings about ESG vary widely amongst the different generations; 72% of investors aged between 18 and 25 believe some, if not all, of their investments should aim for the greater good, while only 29% for those aged between 56 and 75 and 21% of those aged 75 or over felt the same.
- ESG investment issues were more important to women than men, with 86% of women across all generations saying it is a factor in their investment strategy but 37% say they lack confidence and ESG investment knowledge compared with men (26%)
- Overall, there was a positive view of our industry from respondents but delivery via technology is important and an easy-to-use app was the joint highest reason – alongside evidence of high returns over the long term – that would encourage people to invest in stocks and shares. However, 63% had never used an investment app.
- 82% of respondents believed that school and college/sixth form is the most effective time to begin learning about investments and savings – this is especially prevalent in younger investors.
- A low-cost professional advice service was appealing, and family-based advice remains highly influential for all age groups, with 34% having taken and acted upon advice from family and friends. This was closely followed by a financial professional (28%) or an employer (28%), the internet (24%) and social media (18%).