Sarah Levy, Betterment  CEO, joins 'Fast Money' to discuss latest survey findings and what they are signaling about investor sentiment.

Wall Street

A new survey from investing platform Betterment indicates a notable generational divide in market sentiment, with two-thirds of Gen Z investors and more than half of millennials expressing confidence in the market's outlook. This optimism is attributed to their longer investment horizons and a desire for greater control over their financial decisions.

Betterment CEO Sarah Levy explained that while high interest rates have led many investors to keep funds in cash, the platform is adapting to changing preferences by introducing self-directed investing options. The survey also found that demand for human financial advisors remains strong, especially as investors' financial needs become more complex over time.

Betterment survey finds young investors more bullish on markets

Market anxiety is manifesting among investors, but there is a stark divide between younger and older generations. That's according to the latest investor survey from Betterment, an investing and financial planning platform. A full two-thirds of Gen Z investors and more than half of millennials are confident about the market's future. Betterment CEO Sarah Levy joins us now to break down the data. Sarah, great to see you. Thanks for having me. Is this just that younger people have more time to make up for any losses so they are more confident? Is there something about their investing style that makes them different from older investors? I think I would say yes and yes. So I think time horizon, clearly, when you think about volatility, time horizon plays a huge role, which is you don't have to be as nervous. But I also think, actually, I was talking to you guys about my media days. I grew up at Nickelodeon and Gen Z was my demographic, right? And they came out of the womb in control, to be honest. Like they came out of the womb, you know, picking the car for their family and now they want to do the same with their investing. And so I think that's a huge part of who they are as a generation. We're doing a lot of talking about inflation, interest rates. How is that manifesting itself with your customer base? So I think interest rates, what we've seen is that folks have kept money in cash longer and part of that is a great high yield rate. We actually have our highest rate right now on the platform at 4.65%, so you can't really beat that. But we expect that even as rates start to come down, that all of the sort of kangaroo markets will lead, I think will lead a lot of folks to keep their money in cash. So looking at some of the, you know, the Robin Hoods of the world, yours is a very different platform, very different look and feel. But do you think that, is there any light that you want to close in between you two where you would look to expand into some other products? That's a great question. I think there's absolutely light between us, which is to say, when each of our platforms started, there was a concept of either you're a managed investing person and you like diversification, or you're a self-directed investor. And I think what we've seen is a real convergence of those two ideas. It's much more of a spectrum than it is one type of investor or another. So we will be introducing self-directed investing later this year and we want to offer optionality. Back to the Gen Z and millennials, they want some control and we want to give them choice and optionality and that control. All right, so talk to us a little bit about advisors, because this is something you guys have had a big push on. You just talked about Gen Z, they want control, but they also graduate, I think, a bit to like more complex financial products. I think that's maybe what Karen's talking about too. So is that advisor demand, is it there and do you see it increasing? Well that's one of the amazing things that, you know, turn back the clock a decade and I think there was this fear that sort of robo-advisory and technology would supplant the humans. And we've really not seen that. We've believed since the beginning that the right combination of sort of human for peace of mind and for conversation and then technology as tools was sort of the right mix. And we've seen that really play out more and more, particularly as investors age, right? They get married, they buy a house, they want the peace of mind of talking to someone. And so we've built a really nice way for people to sort of grow with us and get that human advice on top of the tools when they want it. Just in terms of where investors are allocated on your platform, they're fully invested? Well, cash and investing, yes. Okay, and what's the divide and has it changed at all? It really depends on, I mean it depends on the investor, but overall on the platform I would say we're about 25% in cash.

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Breakdown