2024 Global Retail Investor Outlook 2025

Capital market participation (percentage of household assets in stocks, bonds and funds) shows no correlation with GDP (gross domestic product), but structural differences impact retail investing in developed vs. emerging economies.Participation rates differ across geographies, with the US as an outlier US India Ireland US investors are 10% more likely on average to find financial products that meet their needs, with approximately 40% using a single provider (vs. approximately 30% on average), signalling a mature and consolidated self-directed brokerage market. In total, 59% of US investors use professional guidance (vs. 49% globally). US investors tend to be exposed to financial education earlier (43% ahead of entering workforce vs. 34% global average) and are slightly less concerned (approximately 5%) about realizing capital losses.There has been active growth and interest in capital markets in India; yet, gaps in banking infrastructure – such as the 22% of adults who remain unbanked4 – limit the full potential of the country’s retail investing landscape. With only 27% of Indian adults currently considered to be financially literate (roughly half of UK/US figures), increasing access to financial education can be a key opportunity.5 There is significant opportunity for wealth accumulation and growth in the Indian stock market, with the benchmark Nifty 50 index doubling from 2019 to 2024 – outpacing the S&P 500, Nikkei 225 and Shanghai Composite.6 With expanded access to investing, there is ample potential for successful market participation when paired with ongoing efforts in financial education and investor protection.While approximately 50% of retail investors globally participate in capital markets via self-managed trading accounts, only about 40% of Irish respondents do, signalling a nascent direct brokerage sector. Only 16% of Irish respondents feel confident to understand financial markets and in making sound investment decisions, and 40% believe retail investors aren’t disadvantaged compared with institutional investors (vs. approximately 50% globally). Globally, about one in five investors use tax-advantaged accounts to participate in capital markets, while only 12% of Irish investors do, also due to limited supply- side availability. This market gap becomes particularly acute given higher-than-EU- average capital gains taxation (33%).7Investors Investors Investors Total respondents Total respondents Total respondents(620) (854) (521) (1,003) (1,001) (1,002)Share of household assets invested in securities vs. GDP (gross domestic product)/capita3 2023 data, GDP in $ Percentage of household assets in stocks, bonds and funds 20,000Brazil China Japan France UKAustraliaGermanySingapore~8% AverageUS IrelandUnited Arab Emirates South Africa India40% 30% 10% 0% 40,000 60,000 80,000 100,000 GDP per capitaCountry highlights 2024 Global Retail Investor Outlook 16