If you're a young, wealthy investor, traditional stocks and bonds are probably not at the top of your investment wish list, research finds.
If you're a wealthy investor between the ages of 21 and 43, alternatives are probably at the top of your list of investments that may provide the most growth.
Nearly one-third of young, wealthy investors' portfolios are in alternative assets like hedge funds, private equity, and crypto and digital assets, according to Mike Pelzar, head of investments at Bank of America Private Bank.Source: Bank of America Younger investors' appetite for alternatives isn't expected to let up, with 93% indicating they plan to use more of those investments in the next few years, Bank of America's research found.Much of the difference between younger and older wealthy investors' outlook comes down to what kind of investments they grew up with, Pelzar explained.
"Underinvesting is a risk, and it's one that I think more younger investors are susceptible to," Callie Cox, chief market strategist at Ritholtz Wealth Management,
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