Self-Directed Investors Market Size & Share Trends, 2034

Self-Directed Investors Market Overview

Global Self-Directed Investors market size is projected at USD 104108.11 million in 2025 and is expected to hit USD 147946.03 million by 2034 with a CAGR of 4.49%.

The Self‑Directed Investors Market Market has expanded significantly as individual investors increasingly shift toward self‑managed brokerage and discount platforms. In 2023, 23 % of all investment assets by U.S. retail investors were managed via online discount brokerage platforms, up from 14 % in 2018. The proportion of retail investors without a college degree now exceeds 50 %, indicating broad-based adoption beyond highly educated segments. Exchange‑traded fund (ETF) usage among retail investors surged to 47 % in 2023, up from 31 % in 2018 — reflecting a clear preference for low‑cost, diversified investment vehicles. Simultaneously, mutual fund ownership declined from 72 % in 2018 to 62 % in 2023, signaling a structural shift in investment behavior. These trends underpin the Self‑Directed Investors Market Market Size and evolving investor behavior across wealth tiers.

In the United States, as of 2024, 24.1 % of all assets held by retail investors were invested via self‑directed platforms rather than traditional advisory channels. The demographic shift is notable: younger generations — Gen‑Z, Millennials, and Gen‑X — now hold a growing share of DIY assets, while Baby Boomer and older age cohorts are shifting away from mutual‑fund-heavy portfolios. In 2023, median assets among female retail investors reached USD 52,105, slightly higher than male investors’ median of USD 50,271. Retirement‑plan self‑directed brokerage accounts (SDBAs) show growing adoption, with an increasing number of participants choosing self‑directed control within workplace retirement plans. These patterns reflect significant structural changes shaping the Self‑Directed Investors Market Market Outlook in the USA.

Key Findings

Key Market Driver: 23 % of total assets by 2023 are held via self‑directed online platforms (up from 14 % in 2018).
Major Market Restraint: Over 50 % of retail investors in 2023 lack a college degree, potentially limiting sophisticated investing.
Emerging Trends: ETF usage among retail investors rose to 47 % in 2023, from 31 % in 2018.
Regional Leadership:1 % of U.S. retail investors’ assets were managed via self‑directed platforms in 2024.
Competitive Landscape: Among high‑net-worth investors, nearly 25 % of assets are allocated via self‑directed channels rather than advisory channels.
Market Segmentation: Self‑directed (online/DIY) channels rose from 14 % asset share in 2018 to 23 % in 2023.
Recent Development: Median assets for female investors reached USD 52,105 in 2023; male investors at USD 50,271.

Self-Directed Investors Market Latest Trends

The latest trends in the Self‑Directed Investors Market Market highlight accelerating adoption of self‑managed investing across generations, growing appeal of ETFs, and rising participation in retirement‑plan brokerage options. In 2023, retail investors using self‑directed online discount brokerages accounted for 23 % of invested assets, up markedly from 14 % in 2018. ETF ownership rose to 47 % in 2023, reflecting a shift from traditional mutual funds, whose ownership dropped from 72 % in 2018 to 62 % in 2023. Among U.S. retail investors, 24.1 % of all assets were held via self‑directed platforms in 2024, signaling an ongoing structural shift in channel preference.

Self-Directed Investors Market Dynamics

DRIVER

Growing preference for self‑managed control and cost‑efficient investment instruments

Since 2018, self‑directed asset allocation among retail investors increased from 14 % to 23 % by 2023, showing strong investor appetite for independent control over investments. Simultaneously, 47 % of retail investors owned ETFs by 2023, signaling growing trust in low-cost, diversified instruments over traditional mutual funds. The shift in investor profile toward younger, tech-savvy demographics — with Millennials and Gen‑X accounting for a rising share of DIY assets — supports ongoing growth in self‑directed platforms. The rise in self‑directed retirement brokerage accounts (SDBAs), with average balances reaching USD 362,302 in Q2 2025, also underlines institutional acceptance and structural growth in the self‑directed investment channel. These factors collectively drive expansion of the Self‑Directed Investors Market Market.

RESTRAINT

Limited financial literacy and risk‑aversion among a substantial share of investors

A critical restraint is the limited formal financial education among self‑investors: over 50 % of retail investors in 2023 lacked a college degree. Without advanced financial knowledge, many may shy away from complex securities, derivatives, or diversified portfolios, limiting their investment to simpler instruments such as ETFs or basic equities. This knowledge gap can restrict adoption of more advanced or higher‑risk investment strategies.

OPPORTUNITY

Growth in retirement self‑directed accounts, ETF‑centric offerings, and under‑served demographics

The rising adoption of self‑directed brokerage options within employer retirement plans (SDBAs) offers a significant opportunity. With average SDBA balances reaching USD 362,302 in Q2 2025, firms offering retirement-plan brokerage services can target participants seeking diversified control beyond traditional plan options. The increase in trading activity and number of holdings per account supports demand for flexible investment structures, ETF-based portfolios, and diversified instruments.

CHALLENGE

Sustaining engagement and managing volatility in self‑managed portfolios

One major challenge is sustaining investor engagement and portfolio performance in volatile markets. While average SDBA balances surged to USD 362,302 in Q2 2025, they dipped to USD 335,857 in Q1 2025 amid market volatility — a 4.7 % decrease from prior quarter. This underscores vulnerability of self‑managed portfolios to market swings, and the difficulty individual investors may face maintaining diversification and risk control without professional guidance.

Self-Directed Investors Market Segmentation

The Self‑Directed Investors Market Market can be segmented by Type (advised vs self‑directed) and Application (age / wealth / investor profile). This segmentation sheds light on investor behavior, needs, and potential business strategies.

BY TYPE

Paid Financial Advisory: Paid financial advisory accounts for 62 % of total self-directed investment assets in 2024. Among these, 41 % of HNW clients prefer hybrid advisory solutions combining human guidance with digital tools. In North America, 58 % of paid advisory users manage portfolios exceeding USD 500,000, while in Europe 47 % of clients rely on structured advisory packages for retirement planning. Paid advisory clients show higher engagement, with 33 % increasing allocations to ETFs and equities in 2023 compared to 19 % in 2018.

Fully Self-Directed Investment: Fully self-directed investors accounted for 38 % of total self-directed assets in 2024. Among these, 29 % are under 35 years old, favoring mobile trading apps and cryptocurrency exposure. In the U.S., 21 % of fully self-directed investors hold more than 15 investment products simultaneously, while in Asia-Pacific 16 % invest exclusively in ETFs and stocks without advisory support. Portfolio rebalancing frequency among fully self-directed investors rose to 43 % in 2023.

BY APPLICATION

HNW Clients Under 35 Years Old: High-net-worth clients under 35 represented 32 % of new self-directed accounts opened in 2024. In this group, 48 % allocate assets to technology and growth equities, while 26 % engage in cryptocurrency investment. Average portfolio size for these clients reached USD 312,000 in 2024. Mobile and online platforms account for 67 % of their trades, reflecting strong digital adoption.

HNW Clients Above 35 Years Old: High-net-worth clients above 35 comprised 68 % of self-directed investor portfolios in 2024. Among them, 41 % invested heavily in fixed-income instruments, while 37 % diversified across global ETFs. Average portfolio size for clients above 35 reached USD 745,000. Frequency of portfolio rebalancing for this group increased to 31 % in 2023 compared to 22 % in 2019

Self-Directed Investors Market Regional Outlook

North America: The leading region in self‑directed investing. Europe: Growing interest in self‑invested portfolios and digital brokerage platforms. Asia-Pacific: Emerging potential, but underpenetrated compared to North America and Europe. Middle East & Africa: Nascent but rising interest in self‑directed investing via digital platforms.

NORTH AMERICA

North America — and especially the United States — leads the global Self‑Directed Investors Market Market in both investor adoption and asset allocation. In 2024, 24.1 % of all U.S. retail investor assets were managed via self‑directed platforms rather than traditional advisory channels, signaling a prominent shift in channel mix. Younger generations (Gen‑Z, Millennials, Gen‑X) now comprise a growing share of self‑directed investors, with the count of Millennials increasing by 9 percentage points since 2018. The adoption of ETFs is widespread, with 47 % of retail investors owning ETFs in 2023 — reflecting demand for diversified, low‑cost investment vehicles aligned with self‑directed strategies.

EUROPE

Although publicly available granular data for Europe’s self‑directed investing adoption comparable to U.S. statistics is relatively limited, structural indicators suggest growing interest. As global digital brokerage platforms expand internationally and consumer financial literacy rises, European retail and high‑net-worth investors are increasingly open to self‑directed investing over traditional advisory models. The shift toward ETFs and passive investment instruments — observed globally — is gaining traction in Europe as investors seek cost efficiency, diversification, and independent control.

ASIA‑PACIFIC

The Asia‑Pacific region remains under‑penetrated relative to North America and Europe — yet it shows high long-term potential for growth in self‑directed investing. As digital infrastructure improves and internet/mobile penetration rises, younger, tech‑savvy investors in emerging markets are increasingly open to managing investments directly via online platforms. Middle‑class and affluent investors in urban centers are exploring equities, ETFs, and self‑managed portfolios, seeking flexibility, cost‑efficiency, and access to global markets.

MIDDLE EAST & AFRICA

The Middle East & Africa region currently represents a nascent but growing segment in the global Self‑Directed Investors Market Market. As economies modernize, wealth accumulates, and digital financial services spread, interest in self‑directed investing is increasing — especially among expatriates, affluent individuals, and younger demographics. Though data remains limited, anecdotal indicators suggest rising demand for direct equity investments, ETFs, and alternative investment products over traditional savings or advisory-based wealth management.

List of Top Self-Directed Investors Companies

Fidelity
Hargreaves Lansdown
National Australia Bank
Wealthfront
Betterment
Barclays
TD Ameritrade
Bank of America Merrill Lynch
UBS
Wells Fargo
CITIC Securities
Interactive Investor
Charles Schwab

Top 2 Companies with Highest Market Share:

Fidelity: Holds 18 % of the global self-directed investor market share in 2024, with over 9 million self-directed accounts and an average portfolio size of USD 421,000.
Charles Schwab: Accounts for 15 % of the market, with more than 8.5 million accounts and total assets under management in self-directed portfolios reaching USD 3.7 trillion in 2024.

Investment Analysis and Opportunities

The evolving Self‑Directed Investors Market Market presents significant investment and strategic opportunities for financial institutions, fintech platforms, asset managers, and wealth‑management firms targeting retail, affluent, and retirement investors. The increasing share of assets under self‑directed platforms — 24.1 % for U.S. retail investors in 2024 — highlights a growing base of DIY investors who prioritize autonomy, cost‑efficiency, and direct control. This creates a stable, scalable market segment for firms offering brokerage services, ETFs, digital investment tools, and retirement‑plan brokerage accounts. Asset managers and fintech firms can capitalize on growing ETF adoption (47 % of retail investors in 2023) by launching low‑cost, diversified, easy‑to-understand ETF product lines tailored for self‑directed investors. Given the large proportion of retail investors without college degrees (>50 %), there is demand for simplified, transparent investment products — reducing complexity and facilitating broader adoption.

New Product Development

In response to evolving investor preferences and market dynamics, product innovation in the Self‑Directed Investors Market Market is accelerating — particularly in self‑directed retirement accounts, ETF offerings, and user‑friendly digital investment tools. One key area of development is expansion of self‑directed brokerage options within employer retirement plans (SDBAs). The average SDBA balance rose to USD 362,302 in Q2 2025, reflecting growing adoption and investor confidence. This has prompted providers to design enhanced retirement‑plan brokerage products with flexible investment options, diversified asset access, and user-friendly management tools.

Five Recent Developments

In 2023, the share of retail investor assets held via online discount brokerage platforms rose to 23 %, up from 14 % in 2018 — marking a significant shift in channel usage.
ETF adoption among U.S. retail investors increased to 47 % in 2023, compared to 31 % in 2018, reflecting a steady decline in mutual fund usage.
In Q1 2024, average self‑directed retirement account (SDBA) balances reached USD 328,239, up nearly 10 % year-over-year.
By Q2 2025, average SDBA balances climbed to USD 362,302, with trading activity averaging 15.4 trades per account — indicating growing confidence and engagement among retirement investors.
Median assets for female retail investors reached USD 52,105 in 2023, slightly above male median assets of USD 50,271 — highlighting growing inclusivity and diversification in the investor base.

Report Coverage

This Self‑Directed Investors Market Market Research Report delivers comprehensive coverage of global and U.S. market structure, investor behaviors, segmentation, regional dynamics, competitive landscape, and product‑level developments. It includes detailed analysis of investor demographics, channel shifts (from advisory to self‑directed), and investment preferences (ETFs vs mutual funds vs equities). The report examines both retirement and taxable account segments — including self‑directed brokerage accounts (SDBAs) — outlining adoption rates, average balances, trading activity, asset allocation, and diversification patterns. Segmentation analysis covers both “By Type” (Paid Financial Advisory vs Fully Self‑Directed Investment) and “By Application” (HNW clients under 35 years old vs HNW clients above 35 years old), offering insight into how different investor profiles are engaging with self‑directed investing.