2024 Global Retail Investor Outlook 2025

What is a retail investor? $0-100,000 $100,000-250,000 $1 million-5 million Over $30 million$250,000-1 million $5 million-30 million Broadly defined, a retail investor is an individual with savings invested in capital markets, excluding government-sponsored pension plans.In this survey, individuals of all wealth tiers were included. For the purpose of the analysis, individuals have been grouped according to their net worth levels, aligned with frameworks generally adopted by global regulatory bodies to categorize accredited investors. Historically lower participation rates, limited access to financial education and professional guidance, and less ability to invest in illiquid assets Familiarity with capital markets Are these investors equipped with the right tools and services to navigate capital markets and/ or complex financial concepts, products and strategies?Risk tolerance To what extent can these investors withstand short- or mid-term loss? To which extent are they sensitive to market volatility? Liquidity requirements Do these individuals constantly require readily available access to their capital, or are they able to invest in longer-term strategies? Access to a financial adviser Are these investors able to access a financial adviser? Do these investors use a financial adviser and, if so, what is the quality of the guidance received?Historically higher financial market participation, greater reliance on professional advisers and the ability to invest in more complex productsInvestable assets ($)The categories are as follows, according to investable assets: Each wealth tier can differ along a broad set of traits, including:Mass market Stocks Crypto- currenciesNFTs and digital assetsComplementary retirement plansLife insurance contractsBonds Mutual fundsExchange-traded funds (ETFs)Affluent Very-high net worth Mass market affluent High net worth Ultra-high net worth In this survey, the definition of capital markets investing includes: Page 11 An individual who invests via an intermediary is considered a retail investor as well. Retail investors have diverse preferences, goals and financial objectives, and may differ in the way they interact with capital markets. An individual’s most suitable market engagement model is based on several factors, including but not limited to their investable assets, available liquidity, financial knowledge and objectives, and risk tolerance.Retail investor definition 2024 Global Retail Investor Outlook 11