Publish date:

Video: These Are the Main Reasons Why Millennials Are Afraid of Stocks

Millennials don't trust the markets. TheStreet speaks to Wells Fargo Asset Management CEO Kristi Mitchem.

Millennials don't trust the markets.

"Millennials came of age at kind of an interesting time," said Kristi Mitchem, CEO of Wells Fargo Asset Management. "Many of them obviously experienced the financial crisis as one of their formative experiences around markets."

According to Mitchem, there are questions, at least from millennials' point of view, about whether the markets can deliver long-term and sustained returns.

TheStreet Recommends

"I think we're absolutely going to expect a more muted return environment," she said. "So if we think about 2018 - we're actually projecting returns of about 5-10% depending upon which market that we're looking at. And I think those returns really become much more the new normal as opposed to what we've experienced over the past several years."

Watch More with TheStreet:

Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!