Italians and finance: interest is growing, but guidance is needed to make the right choices
This is revealed in the sixth edition of the Edufin Observatory, organised by Pictet AM, with technical support from Finer Finance Explorer
Key points
Interest in finance is growing, but the real challenge is finding guidance. Economics and finance are no longer seen as subjects for specialists or experienced investors. The complexity and volatility of the financial markets, combined with prolonged geopolitical uncertainties, have led to a steady rise in interest in financial matters amongst investors and savers, with almost the entire sample (93 per cent) now stating they are very or fairly interested, compared with 76 per cent in 2021. Over the past five years, the proportion of those who say they are ‘very’ interested has risen from 27 per cent to 42 per cent, whilst disinterest has fallen to almost zero.
Between emotions and algorithms
These are some of the findings from the sixth edition of the Edufin Observatory, organised by Pictet Asset Management, which analyses the current state of financial literacy in Italia. This year’s edition is entitled “Between emotions and algorithms”, precisely to highlight how Italians’ financial choices are now increasingly influenced by these two factors.
On the one hand, emotions – with anxiety and the fear of loss continuing to weigh on saving and investment habits; on the other, artificial intelligence and social media, which are increasingly present in our daily lives and, albeit more slowly, in our financial habits too. The research was carried out by Pictet AM under the direction of Nicola Ronchetti, founder and CEO of Finer Finance Explorer, a research institute specialising in the financial sector.
Our relationship with money is complex
Italians’ interest in finance has never been higher, but their relationship with money and how they use it seems to be becoming increasingly complex. Social media, short videos and artificial intelligence tools are profoundly changing the way people stay informed, build trust and make financial decisions.
Yet the need for human guidance remains; people seek it within their own social circle, but even more so in schools, institutions or from advisers. Almost one in two (48 per cent) cite the difficulty of finding reliable content and role models as the main obstacle. This need, on the contrary, becomes crucial in helping savers achieve greater peace of mind and financial stability. In the absence of effective guidance, emotions take the upper hand: a growing sense of financial anxiety is reflected in portfolios heavily weighted towards the short term and in new savings channelled primarily into liquid assets.
