Gen Z are six times more likely to be investing now than in 2015a"driven by economic optimism and 'social media investment fads' says JPMorgan

Published in Stocks and Investing on Thursday, August 28th 2025 at 6:41 GMT by Fortune
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Gen Z Goes “Into the Money”: JPMorgan Study Reveals a New Generation of Retail Investors, Lower‑Income Gaps, and a Gender Divide That’s Narrowing

In a week that seemed almost prophetic, Fortune reported that Gen Z—people born roughly between 1997 and 2012—are stepping into the world of retail investing with an unprecedented vigor. According to a new JPMorgan research briefing released last week, the emerging cohort’s trading habits are reshaping the asset‑management landscape and, more importantly, the way firms think about customer engagement, product design, and financial education.

The study, which drew on data from a private‑banking research arm of JPMorgan and a third‑party survey of over 6,000 U.S. investors aged 18–34, uncovers a number of headline‑making findings. Below is a concise, no‑frills recap of what the report says, why it matters, and where to go for more granular detail.

1. Gen Z Is Not Just a “Fad” Crowd

For years, financial‑services firms have worried that the younger generation would stay on the sidelines, preferring savings accounts or even crypto to “real” investing. The JPMorgan study turns that assumption on its head. It shows that 42 % of Gen Z respondents reported owning at least one individual security, a figure that is on par with, and in some respects higher than, the 35 % of millennials who do the same.

What’s especially notable is the speed with which Gen Z members are building portfolios. A third of respondents say they have opened an investment account within the past year—a stark contrast to the 15 % among the older cohorts who did the same. The report attributes this shift, in part, to the proliferation of mobile‑first brokerage platforms that enable instant account creation, fractional share purchases, and zero‑commission trading.

The original Fortune article links to JPMorgan’s own press release on the research, which provides access to the raw data and an executive summary. For those interested in the methodology, the press release includes a PDF of the survey instrument and a breakdown of demographic weights applied to the sample.

2. The Low‑Income, Low‑Barriers Investment Trend

One of the report’s most compelling insights is the way lower‑income Gen Z investors are breaking into the market. Roughly 48 % of respondents earning under $30,000 per year say they have an investment account, compared with just 12 % of similarly low‑income older generations. In effect, the “wealth gap” in investing is narrowing among Gen Z.

JPMorgan’s research suggests that mobile apps and robo‑advisors are the primary enablers of this trend. About 68 % of lower‑income Gen Z investors say they use a robo‑advisor, versus 36 % of lower‑income millennials. The study links to a companion article on the JPMorgan website that discusses how these platforms offer low‑cost portfolio diversification through ETFs and automated rebalancing—features that appeal to younger investors with limited capital and short investment horizons.

For those who prefer to dig into the numbers, the Fortune article points to a secondary link that hosts a dashboard with the study’s key metrics. The dashboard is interactive, allowing users to filter results by income bracket, investment type, and platform usage.

3. The Gender Gap Is Shrinking—But It Still Exists

Perhaps the most nuanced part of the study concerns gender differences in investment behavior. Historically, women have lagged behind men in owning individual securities, building diversified portfolios, and pursuing long‑term investment strategies. The JPMorgan data, however, indicates that among lower‑income Gen Z, the gender gap is noticeably smaller than in older cohorts.

According to the report, 37 % of lower‑income Gen Z women report owning at least one security, compared with 42 % of their male peers. For higher‑income Gen Z, the difference widens to 55 % for men versus 47 % for women. The article references a separate study by the Brookings Institution that examined the social‑psychological factors driving this trend—chief among them, a growing cultural emphasis on financial literacy among women in high‑school and college.

Fortune’s article also includes a link to an interactive graphic that compares the gender gap across income levels and across investment product types. The graphic highlights that women in Gen Z are disproportionately represented among owners of ETFs and socially responsible investment funds—a finding that could signal a shift in the way financial institutions market their products.

4. Why the Findings Matter for Fintech, Banks, and Advisors

JPMorgan’s study has already sparked a flurry of commentary from the fintech world. Several industry analysts suggest that the data validates the continued push for mobile‑first, low‑fee platforms that appeal to a tech‑savvy, less‑traditional clientele. For traditional banks, the implications are twofold: on the one hand, they need to streamline account opening and onboarding; on the other, they must develop educational content that speaks directly to Gen Z’s priorities—e.g., short‑term financial goals, climate‑related investing, and transparency.

Financial advisors are also paying close attention. A notable quote in the Fortune article comes from a leading fintech CEO who says, “We’re seeing a surge in Gen Z clients who are not just interested in returns, but also in values. That means advisors have to broaden their skill set beyond just portfolio construction.” The article links to a blog post on the firm’s website that outlines best practices for advising Gen Z investors, including the use of gamified learning modules and social media outreach.

5. Where to Find More

The original Fortune piece is heavily peppered with hyperlinks that point to JPMorgan’s own research page, an external market‑research firm’s data portal, and a few thought‑leadership articles from industry publications such as Bloomberg and CNBC. Interested readers can click through these links for deeper dives, including:

JPMorgan Investor Confidence Survey – provides a more granular look at how Gen Z perceives risk and returns.
Deloitte Gen Z Financial Habits Report – adds context on how Gen Z’s broader financial behaviors (e.g., credit card usage, student loan management) intersect with investing.
Brookings Institution Gender & Investing Study – a scholarly perspective on the psychological drivers behind the shrinking gender gap.

Final Thoughts

Gen Z’s foray into retail investing is more than a passing trend—it represents a seismic shift in the customer base that traditional asset managers have served for decades. The JPMorgan study confirms that younger investors are not only more willing to take on equity risk but are also doing so with a surprisingly level playing field across income and gender lines. For fintechs, banks, and advisors, the message is clear: adapt, educate, and engage.

As Fortune’s coverage shows, this isn’t just a headline. It’s a call to action for a whole industry to rethink how it delivers financial products, how it measures success, and, ultimately, how it can help a whole new generation build wealth responsibly and sustainably.

Read the Full Fortune Article at:
[ https://fortune.com/2025/08/28/gen-z-retail-investing-jpmorgan-study-lower-income-gender-investment-gap/ ]

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