A new study from Bank of America Private Bank breaks down the generational divide in investing strategies among wealthy Americans. Bank of America Private Bank head of investments Michael Pelzar joins Wealth! to give insight into these generational differences and what investors should consider for their portfolios.

Pelzar lays out the "stark" differences between younger and older cohorts: "So, first is with respect to returns: of that younger cohort, nearly three-quarters of people felt that they could not achieve the above average market returns that they want using strictly stocks and bonds. That's in stark contrast with the older generation, who largely felt that you could get there with stocks and bonds."

Younger people also favor alternative investments: "If you look at their asset allocation, that older generation has 75% of their portfolios in stocks and bonds and only about 5% in alternatives. But the younger generation actually allocates about a third of their portfolios to alternative investments, crypto and digital assets."

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This post was written by Nicholas Jacobino