The kids are alright: finance's old guard sees generational change

When Wall Street veterans gathered this week for one of their first in-person conferences since the pandemic began, the focus, on emerging issues from"meme stocks," to cryptocurrencies and free trading apps, signaled a new era for the world of finance.

The volatility of that episode was a common theme and for many participants the issues struck close to home: speaking in fireside chats and panels, several said their kids had been drawn into the market after retail brokers like Charles Schwab Corp and Fidelity followed Robinhood Markets' and dropped commissions.

Allison Lee, a Democratic SEC commissioner, said her five children, all in their 20s and 30s, also use trading apps.

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