When it comes to their financial investment, many Germans do not know exactly whom they should or can trust. In a joint survey conducted by quirin bank, YouGov Deutschland and YouGov USA, German and American investors and their investment behavior were compared. The results provide quite interesting findings.
Little trust in investment advisors
Almost six out of ten respondents in Germany feel a “fundamental mistrust towards consultants who recommend money investments”. In the US, on the other hand, only 23% of respondents are suspicious of consultants and asset managers. At 31%, the confidence in investment advisors clearly prevails. „The strong difference is evident in all age groups, even among young respondents under the age of 30 and among both women and men“, points Karl Matthäus Schmidt, chairman of the quirin bank.
The critical attitude towards investment advisors is also reflected in one further respect, just as: 50% of Germans think that no investment adviser can be smarter in the long run and achieve better results than the market. In the USA, only one in three respondents thinks so.
Investments abroad are gaining interest
However, the skepticism about investment consultants does not mean that the Germans do not want to save money. In the USA and Germany, almost half of the population aged 18 or over is quite interested or very interested in money investments (Germany: 43% / USA: 46%). As the income rises, the interest in profitable investments is also growing.
Surprisingly, according to the survey, German investors are fundamentally more likely to invest their money abroad than Americans (Germany: 23% / USA: 14%). Almost three times as many Germans as Americans have already done so in the past (Germany: 15 % / USA: 6 %).
Finding investment opportunities online
To inform themselves about international investment opportunities, Germans and Americans find the Internet once again as a great help (Germany: 43% / USA: 42%). Overall, more than half of Germans and Americans want to be able to dispose money investments easily from anywhere.
Conclusion
All in all, the Germans rather look with suspicion upon investment advisors and use the Internet as a source of information for money investments rather than Americans. Only few Germans believe that an investment advisor can discern the complexity of the markets. On the other hand, more and more Germans and Americans appreciate the advantages of investing via the Internet.
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