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Among 18-29-year-olds, 69 percent rate their financial knowledge as good, compared to only 61 percent among 60-70-year-olds
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Internet, personal environment, and finance professionals are the most important sources of information
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Banks are expected to offer personalized investments and AI tools for advisory services
A representative, cross-country study by Boerse Stuttgart Group provides insights into attitudes and decision drivers regarding finance and investments. 65 percent of respondents indicate that they are very well or well informed about financial topics. The share of well-informed individuals among young adults aged 18 to 29 is 69 percent, significantly above average, while among the older generation aged 60 to 70 it is 61 percent, significantly below average. In Germany, 68 percent of respondents feel financially well informed – followed by Spain with 67 percent, Italy with 63 percent, and France with 57 percent. 6,000 people from the four countries participated in the study survey.
Among the sources of information used for financial and investment decisions, the internet leads with 37 percent, followed by the personal environment – partners, family, and friends – with 36 percent, and people working in the financial sector with 33 percent. Artificial intelligence is used most intensively in Spain, where 19 percent rely on AI tools. In Germany, by contrast, only 11 percent use AI as a source of information. People working in the financial sector, and thus the financial institutions they work for, enjoy the highest level of trust among sources of information. 76 percent of respondents trust their information.
Financial institutions are not only in focus as a trustworthy source of information. The study also provides insights into which services respondents expect from their own bank over the next three years. Personalized investments are mentioned most frequently at 37 percent, followed by the integration of AI into financial advisory services at 24 percent. A broad range of asset classes is relevant here. 42 percent of respondents have already invested in stocks, 38 percent in investment funds and ETFs, and 30 percent each in bonds and precious metals.
"Our study shows that financial literacy in Germany and Europe needs to be strengthened further. Financial institutions play a central role in this, as they enjoy high trust as a source of information. In addition to offerings for financial education, investors also expect services such as personalized investments and AI-supported advisory. Moving into this direction, financial institutions can retain customers and support the development towards more self-determined, active investors in Europe," says Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group.
