Uber and Netflix have fundamentally shifted consumer behavior and disrupted incumbent firms. In our research, we’re beginning to see signs that Wall Street is being threatened by similar forces.
Will Wall Street Be Able to Earn the Trust of Younger Investors?
Finance is facing the same challenges that have upended industries like television.
November 21, 2018
Summary.
New data suggests that consumers under 35 are approaching investing differently than earlier generations. They are extremely interested in “alternative” investments, such as investing in startups, and a new generation of fintech companies are giving non-wealthy investors ways to do this. In much the same way that Uber disrupted the taxi industry and Netflix upended the economics of movies, Wall Street firms should be concerned that they are going to lost significant business from this younger generation, the same way that cable providers have suffered as the “cord-cutters” and “cord-nevers” have come of age.
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HBR Learning
Innovation and Creativity Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Unlock your team's curiosity and willingness to take smart risks.