Research shows a gap between how investors expect to handle risk and how they actually respond when markets shift.
A 2021 CFA Institute study found that nearly half of retail investors worldwide struggle to align their risk appetite with the decisions they make.
When markets turn volatile, as many as 8 in 10 investors take steps that contradict their original plans—selling too early or holding back from opportunities they once pursued confidently. (CFA Institute, 2021; Statman, 2019)
Most investors only discover their true risk appetite when volatility forces their hand.
In Sub-Saharan Africa, while data on investor behaviour is still emerging, limited financial guidance and literacy—averaging below 40% in major economies (S&P Global FinLit Survey, 2015)—make this disconnect even more likely.
The result is that many investors lack a clear picture of their own investment approach, leading to decisions that feel reactive rather than steady.
The Ficus Fulcrum assessment helps bridge this gap by giving investors a clearer view of their risk appetite and investment focus—before markets test them.
Sources:
- CFA Institute Investor Trust Study 2021: Link
- Statman, Meir (2019). Behavioral biases in investing. SSRN
- S&P Global FinLit Survey 2015: Full Report