Younger generations (Gen-Z, Millennials, and Gen-X) are entering the market and growing their share of assets, while less educated investors are also increasingly participating.

Women represent a smaller proportion of the market by percentage and total assets but have higher median assets. They tend to start investing later in life, with an older average age.

The shift toward discount channels and self-directed accounts continues to grow, with individual equities becoming more popular.

Assets are moving from traditional advice-based channels to discount brokerage platforms, reflecting a broader trend toward self-service.

Investor portfolios are becoming more diversified, holding an increasing number of products. However, mutual funds—especially active ones—are declining in favor of ETFs and equities.

Despite the influx of younger and less educated investors, high-net-worth (HNW) investors continue to control an increasing share of total assets.