A risky business for the young

More young people are putting their money in high-risk investments without seeking advice from a financial adviser.

The Financial Conduct Authority has found that a younger, more diverse set of consumers are taking risks with their money – partly because investment apps make it easier to do so.

In research published this week, the authority announced that it is currently consulting on a proposal that will require investors to give up to 180 days’ notice before money held in open-ended property funds can be redeemed.

The FCA said that it is trying to reduce the potential for investor harm – because the terms for dealing in units of some property funds are not aligned with the time it takes to buy or sell the buildings the funds invest in.