“The portfolio that’s made for a 70-year-old, 80-year-old isn’t the same one that’s going to appeal to somebody that’s thinking about their child’s investment fund.” – 03:06
Logan Weaver, President & CEO of Surmount, joins Remy Blaire at the New York Stock Exchange to discuss the evolving landscape of investment management, particularly focusing on the younger generation of investors. I begin by addressing a common perception that investment advisors are primarily for older, wealthier individuals. Surprisingly, less than 2% of traders under the age of 40 are currently working with advisors, which raises questions about accessibility and relevance in today’s market.
Logan shares his insights on the current state of investment management, highlighting a significant trend where younger investors are gravitating towards self-trading applications like Robinhood. He notes that many of these individuals prefer to manage their own investment decisions rather than relying on traditional financial advisors, often due to a disconnect with the older generation’s approach to wealth management.
The conversation then shifts to the role of technology in investment management, particularly the impact of artificial intelligence and machine learning. Logan explains how these technologies are beginning to transform the industry, enabling advisors to better understand client preferences and construct more suitable portfolios. He predicts a significant increase in AI adoption within the financial services sector over the next few years, despite the industry’s historically slow response to technological advancements.