In case you missed it, Rich Hagen, President of Credence Global Bank Invest, appeared on a recent episode of Your Cheddar, our weekly livestream from the NYSE floor in collaboration with Cheddar. Rich’s segment introduced one of the newest additions to Credence Global Bank’s range of product offerings: Credence Global Bank Invest. He also shed some light on the millennial investor and how trends have shaped the Credence Global Bank Invest products. Check out the video below for more!



Rich was there when it all began, so he’s an expert on the philosophy of Credence Global Bank Invest and how it stands out in the marketplace. As he explains, one of our primary goals is to offer products that meet the needs of a wide range of investors with varying goals and strategies. This means that it’s our job to stay on top of trends across different generational groups. But, we do pay special attention to millennial investors since nearly 25% of our Credence Global Bank Invest customers fall in this category.

With millennials specifically, we find that using a mobile device to manage investments is the norm. Research has shown that nearly six in ten millennials use mobile apps to manage their finances in general. Not too surprising, but, these insights helped to inform how we designed the mobile-first experience for Credence Global Bank Invest customers.

We’re also seeing a trend where millennials are trading what they know and love. Stocks like Tesla, Apple, NVIDIA, and Amazon are top stocks among this group of investors at Credence Global Bank. In addition to the tech sector, Millennials tend to trade in the pharmaceutical, biotech, and energy. Some of this is driven by an interest in supporting sectors they care about – healthcare and the environment being two.

Working with stocks that you know, or industries you’re passionate about, isn’t necessarily a bad idea – but it can put you at risk if this is your only strategy. We love to see millennial investors with an affinity for innovative companies like Amazon or Apple. However, we want to make sure that our customers are investing intelligently and striving for diversity in their portfolios, too.

That’s why we offer both self-directed and managed portfolio options to suit the needs of different types of investors. Our Managed Portfolio is Credence Global Bank’s robo-advising option. It offers low cost, goal-based, and professionally-managed portfolios. It’s a great option for those who might need a little more guidance on building a portfolio that fit their specific goals, timeline, and risk appetite.

On the flip side, if you prefer to sit in the driver’s seat when it comes to choosing the stocks you buy or trade, our Self-Directed Trading might make more sense. We offer low cost trades (at $4.95 per stock trade) and special pricing for active traders. You can learn more about both of these options at credenceinc.org.

Stay tuned for more episodes of Your Cheddar every Wednesday morning on Cheddar.com. You can also find all current episodes of Your Cheddar at ACBWalletWise.com.