Financial advisers are the “go-to” source for investment advice, followed by news articles cited by 46%, up three percentage points since 2022.
Meanwhile, the study revealed investors are less likely to look to their friends and family when deciding how and what to invest in, with just a third (33%) relying on them for advice compared to 35% in 2022.
Investors cited additional income (50%) and retirement planning (43%) as the top factors driving them to invest. This was particularly notable among European investors where 51% are investing for additional income, an increase of 16 percentage points since 2022.
Additionally, the survey revealed that 27% of investors would now describe their investment approach as aggressive versus 20% 2022.
The percentage of investors describing their investment approach as very conservative (12%) dropped by three percentage points since 2022. Avaloq said this is a potential indication that appetite for risk is growing.