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How Do Households Invest on Behalf of Their Children? Evidence from a Robo-Advisor

Author

Listed:
  • Alexis Direr
  • Indigo Jones

Abstract

Despite the practice being commonplace, little is known about how parents invest in financial markets on behalf of their children. Using a large dataset from the leading French robo-advisor, we find that fathers are more likely to open investment accounts for their sons than their daughters for those aged 12 and above. Since fathers predominantly manage children's contracts within the family, this results in a higher number of savings contracts opened for boys. Additionally, although fathers tend to choose riskier investment profiles for their children compared to mothers, no discernible difference in investment strategy is observed between sons and daughters for either parent.

Suggested Citation

  • Alexis Direr & Indigo Jones, 2025. "How Do Households Invest on Behalf of Their Children? Evidence from a Robo-Advisor," Annals of Economics and Statistics, GENES, issue 160, pages 73-92.
    • Handle: RePEc:adr:anecst:y:2025:i:160:p:73-92
    DOI: 10.2307/48857613
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    Keywords

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    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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