The Strategist says investing for young people can mean extra millions in retirement
ProCap Financial chief market strategist Phil Rosen joins Varney & Co. to discuss brokerage firms launching youth investment accounts and Allbirds’ pivot to AI at ‘Varney & Co.’
Large brokerages are increasingly targeting younger investors, giving young people the opportunity to start building portfolios years before they start.
ProCap chief financial market strategist Phil Rosen joined FOX Business’ Stuart Varney on “Varney & Co.” to address this change, making it part of an industry-wide plan to capture the next generation of customers amid changing demographics.
The New York Stock Exchange on Wall Street. (Angeluisma/Getty Images)
Firms like Charles Schwab and Fidelity have long catered to older investors, but the rise of mobile-first platforms like Robinhood, which account for a large portion of millennial and Gen Z users, has intensified competition. Rosen pointed to that dynamic as a key driver behind entry into new accounts, as legacy firms look to establish relationships earlier in investor life cycles.
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“I’m very much in the camp that the younger you are to get into investing is a good thing, isn’t it, because that can be the difference of millions of dollars in retirement if you start at 15 years old compared to 25,” said Rosen.
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The trend reflects a wider cultural shift towards early financial and investing education, with more young people gaining exposure to the markets through apps and social media. At the same time, Rosen cautioned that education is still important as young investors navigate complex and volatile markets.
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“If we can get them to avoid those things, I think so [a] it’s a good thing to get people involved in the markets,” Rosen said, warning against speculative trading behavior like meme stocks and short-term options.
As competition heats up, brokerages appear willing to rethink traditional entry points in an effort to secure long-term growth.
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