2018 Student Research Conference:
31st Annual Student Research Conference

Changing of the Guard: How Millennials Will Shape Business and Investing in 2028


Keilah A. Sullivan* and Benjamin Wingo
Dr. Katherine Jackson, Faculty Mentor

By 2028, millennials will have inherited nearly $30 trillion from baby boomers. A wealth transfer of this proportion will provide them an unprecedented degree of influence over future investments, technology trends, and consumer preferences. When it comes to investing, risk-averse millennial investors will advance the shift toward passive management, which itself will progressively rely on investments abstracted by robo-advisors. Next, technological advances in machine learning-based algorithmic trading (AT), blockchain, and the aforementioned robo-advisors will result in a market that is simultaneously more efficient, volatile, and transparent. Finally, the hyper-efficiency wrought by AT will likely be tempered by new consumer preferences for sustainable responsible investments driven by socially conscious millennials more trusting of investment apps than investment advisors. Firms across all industries will need to reevaluate established strategies in courting – and retaining – consumers. The financial sector in particular must reassess how millennial preferences and technological advances in 2028 will impact roles traditionally filled by financial intermediaries and other human operators.

 

Keywords: Millenials, Investments, technology

Topic(s):Business Administration

Presentation Type: Oral Paper

Session: 109-5
Location: VH 1320
Time: 9:00

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