Retail Investors Stay Bullish on Portfolios, Wary of the Economy
- Despite 2025 market volatility, economic uncertainty and global turmoil, eight in 10 investors are satisfied with their portfolios
- Most investors feel they will be able to weather the continued market volatility, though results vary by generational group
- About 45% of Gen X and 41% of Millennials worry about meeting their five-year financial goals.
- Most investors are satisfied with their financial advisors, but Gen X is more likely to feel their expectations are not being fully addressed.
FTSE Russell’s third annual retail investor survey reveals new trends among investors. Despite navigating a turbulent first half of 2025, the vast majority remain bullish on their portfolios and satisfied with their performance. Yet a notable disconnect persists—confidence in the broader equity market and economy is noticeably weaker.
Investors Bullish on Portfolios but Less So the Economy
Despite ongoing volatility, 75% of investors remain positive about their portfolios for the next six months, and 73% over 18 months. In contrast, only 46% are optimistic about the economy in six months, rising to 51% at 18 months.
Still, 62% of investors plan only minor portfolio adjustments over the next year, most often aiming to rebalance (17%).
Striking Generation Gap on Financial Futures
Gen X and Millennials are more anxious about their investments than Baby Boomers. Gen X (born 1965-1980) and Millennials (1981-1996) are openly concerned about whether future market volatility will put their financial goals out of reach. But the Baby Boomer generation (1946-64) is largely retired and less anxious.
Gen X are most concerned, with 40% feeling stressed about their portfolios, compared to 31% of Boomers and 29% of Millennials. Concerns about meeting financial goals over five years stand at 45% for Gen X, 41% for Millennials, and only 24% for Boomers.
Advisors Earned High Satisfaction, but Gen X Feels Underserved
Good communication through the first half of 2025 has helped to reinforce investor trust and satisfaction. But Gen X has reservations and Millennials feel little loyalty, creating an issue for advisors.
Only a little more than half (57%) of Gen Xers say they’re very satisfied with their financial advisor. That’s far less than Millennials (69%) and Baby Boomers (72%). When asked whether advisors equip them with custom solutions tailored to their needs, only five in 10 Gen Xers (48%) strongly agree, against two thirds (65%) of Millennials and a similar number of Baby Boomers (61%).
Index Fund Usage Holds Steady but Interest in Active Picks Up
Investor interest in index funds remains strong, with 47% owning them—unchanged from 2024 and up from 33% in 2022. Nearly a third (30%) now consider themselves knowledgeable about index funds. Meanwhile, half (50%) of respondents expect actively managed funds to outperform passive index funds in 2025, and buffer ETFs continue to grow in appeal: while only 33% own or are familiar with them, 72% of affluent investors find them attractive for limiting losses, even with capped gains.
To download the full survey visit FTSE Russell.com
Methodology
FTSE Russell’s 2025 Wealth Pulse Survey was an online quantitative survey of 750 U.S. retail investors conducted by independent research firm 8 Acre Perspective. The respondents were aged 25+ with $250,000 or more of investable assets and 37% had $1 million+ in assets. They were either the main decision maker for household money decisions or shared the responsibility. All owned individual stocks, mutual funds and/or ETFs outside the workplace. The survey was fielded between June 2 and June 11, 2025.
