In the next decade we will see a new generation of investing brands fight to become the primary brokerage for Millennials and GenZ. Why? Robinhood’s success awakened the investment mindset amongst Millennials/GenZ, and it’s not just equities. It’s trading cards, fine wine, vacation homes, streetwear, and other lifestyle assets turned investments.
Robinhood’s dominance marks the beginning of a new generation of retail investment products. As of 2020, millennials owned just 3% of all retail equity and 43% to 51% didn’t own stock in 2019.