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Online Brokers Targeting Gen Y

Oct. 7, 2013
Brokers, Investing
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  • Several online brokerages are experimenting with  new tools and technologies targeted toward a younger generation of investors. TD Ameritrade conducted a study recently that found just 11% of Gen Y saw the stock market as the best way to save for retirement, despite the prevailing conventional wisdom that people saving for longer-term financial objectives should be heavily invested in equities.
  • 5 separate T.Rowe Price mutual funds are already loaded up on a combined sum of about $220 million worth of Twitter stock. While Twitter is still in the early stages of its IPO process, the T.Rowe Price funds have taken the largest pre-IPO stakes in the company among US mutual funds. According to the IPO filing that Twitter submitted last week,  the company is valued at $12.8 billion, although many experts expect the company to trade much higher once it becomes publicly traded.