Over two-thirds (70%) of millennials in Singapore and Hong Kong now say responsible investing is a priority for them, up 6% from 2021, reveals a new St. James's Place (SJP) Asia study on wealth management approaches between older and younger investors.

The study looked at how millennial investors in Singapore and Hong Kong between 25-39 years old view and approach wealth creation, management and financial planning as a barometer for future trends. 

The findings also covered trends around sustainable investing and areas such as retirement planning and intergenerational wealth transfer.

Guy Harvey, CEO SJP Singapore said: "We see younger investors leading the way in ESG investment trends as they see this as a vehicle to put their own money to better use. 

"Given their convictions around responsible investing, seeking out financial advisers who are knowledgeable in the space can help them incoprorate the ESG principles they value most into their investment and wealth planning while debunking false assumptions that returns must be sacrificed."

The report also looks at trends around sustainable investing and areas such as retirement planning and intergenerational wealth transfer and I wanted to see if you would be interested in running a story on the back of this report. 

Other Key findings included:

•    92% of millennials believe that being wealthier would make them happier.
•    83% of millennial investors in Singapore and Hong Kong believe that being wealthier would allow them to have a better work life balance.
•    More Singaporeans (69%) are willing to spend more time working to increase their wealth compared to Hongkongers (65%). 
•    70% believe that they should work longer and harder, even at the expense of personal relationships while they are young to enjoy the fruits of their labour when they are older.
o    Only 67% in the older generations are willing to compromise on personal relationships to maximise their wealth. 
•    68% actively review sustainability reports and/or credentials before deciding whether to invest in an equity or asset.
•    49% of millennials are prepared to divest from a company that is not operating sustainably.
•    61% would do the same for a company contributing negatively to climate change.
•    57% in Singapore and Hong Kong believe they are on track to have enough money saved for the lifestyle they want to live in their retirement.
o    47% say they have likely saved enough to retire early, but 31% intend to continue working regardless. 
•    75% in Singapore and Hong Kong are comfortable with the financial planning process they have.
o    However, more than half (52%) have no financial plan at all. 
•    53% of Singaporean and Hong Kong investors engage a financial adviser to manage investments on their behalf. 
o    Of those who engage an adviser, 91% say the advice they receive is useful. 
o    Of those who don't, 53% believe that they could have had a larger return on their investments in the past 1-5 years if they had engaged one. 
•    79% in Singapore and Hong Kong seek financial advice before making an investment decision