NEW YORK (TheStreet) -- Ram Subramaniam, president of Fidelity Brokerage Services, says retail investors, particularly those of the Millennial generation, are continuing to get more involved with the stock market.
The company's research site has seen its traffic climb 30% year overyear, he told TheStreet TV Friday, including mobile use. Mobile check deposits have grown 50% over the past two years.
According to Subramaniam, 40% of the tech-savvy Millennials are "concerned" about their financial future, which is likely why up to 50% of them have starting saving for retirement. He called Millennials the "big emerging market of the future."
Millennials will continue to push brokerage firms to innovate and provide great service, he added. This generation prefers exchange-traded funds over mutual funds, Fidelity found although 82% of Fidelity's customers as a whole think it important to own both investment instruments.
Subramaniam said investors also appears to be feeling more optimistic, with Fidelity's buy/sell indicator showing investors have been net buyers over the past two quarters.
- Written by Bret Kenwell
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.