Fidelity Investments is continuing its push to support teenagers’ financial and investing journeys with a new thematic lineup.
The Fidelity Youth Baskets suite, touted as an industry first, is now accessible through the Fidelity Youth app, the firm’s platform dedicated to fostering financial literacy among the next generation.
Designed with input from teenage users of the app, the new baskets are structured based on the firm's existing technology for basket portfolios. This initiative aims to simplify investment choices for teenagers by offering them a hands-on approach to learning about diversification in investments.
Kelly Lannan, senior vice president of emerging customers at Fidelity, said the project is rooted in the desire to make financial education more actionable for teenagers.
"Teens are interested in investing but are often overwhelmed by their options and unsure where to start,” Lannan said in a statement.
“With the new baskets capability, we’re helping teens learn how to diversify their portfolios in a simplified experience based on direct feedback from teens themselves.”
The Fidelity Youth Baskets feature three thematic investment baskets: Clothes, Shoes & Beauty; Gaming, Social Media & Connectivity; and Entertainment, each of which includes 10 individual securities. These baskets reflect the interests of the teenage demographic, allowing them to manage a portfolio that is aligned with their passions.
Upon opting for a basket investment, users are introduced to the concept through videos and animations designed to demystify the investing process.
The investment behemoth is rolling out the feature in line with its broader mission to bridge the financial literacy gap among teenagers, providing them with resources to understand and engage in investing actively.
In addition to the Fidelity Youth app, the firm has been proactive in launching digital financial education initiatives aimed at various demographics, including the recently announced Women Talk Money: Teen Girl Learning Series.
Last week, it announced a massive financial literacy push aimed at next-gen investors, which will see tens of thousands of its associates reach out and work to educate middle school and high school students. Fidelity's commitment to financial education extends to the Invest in My Education initiative, a $250 million effort focused on providing educational access and support to historically underserved students.
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