Youth is not what it used to be, says James Perkins, founder and CEO of Thrasher Funds, a mutual fund and investment advisory company with a special focus on Gen X and Gen Y clientele. Thanks to the popularization of designer fashions and the increasing reach of advertising (think YouTube and Facebook), young people today are spending on goods and services that were previously associated with an older and wealthier demographic.
All this looks like a "demographic convergence" to Perkins, 30. And Thrasher Funds is hoping to ride the convergence wave by positioning itself as a young and hip investment alternative for the younger set and by investing in companies that successfully navigate the trend.
"This hasn't been done before," says Perkins. "You never see investment ads aimed at the younger demographic or financial products tailored for them. You never see an entire firm slanted [toward young] investors."
In the meantime, the company's website, thrasherfunds.com, seeks to introduce investing as something that's both interesting and important to the average twentysomething by providing financial education through short videos and illustrations. "Investing has been made to seem like it's something that only certain people do," says Perkins. "But we should all be investing."