Wealthy Millennials Have Lowest Allocation to Stocks

BY LORIE KONISH, CNBC  

Wealthy millennial investors have the lowest allocation to stocks compared to other generations.

High net worth and ultra-high net worth members of the millennial generation — those who were born between 1981 and 1997 — also have the highest exposure to alternative investments, according to a new survey from U.S. Trust.

But wealthy millennials have ramped up their stock allocations in the past year to 46 percent from 25 percent, according to the survey. They also cut their cash as a percentage of their total portfolio to 21 percent from 47 percent. Click here for the full report from CNBC.