Investors under the age of 30 drove a 27% increase in the number of Stocks & Shares ISAs opened in the 2024/25 tax year.
Those aged 25 to 30 were the most likely to open a new Stocks & Shares ISA with a 27% increase in the number of accounts opened.
They were followed closely by a 21% increase for those under the age of 25, according to new data from online platform Moneybox.
Those least likely to have opened a new account were 40-45-year olds with an increase of 8%.
There was also a significant increase of 75% in the average Stocks & Shares ISA deposit for clients of the platform.
By April 2025 6,217 Moneybox clients had maxed out their Stocks & Shares ISA.
Brian Byrnes, director of personal finance at Moneybox, said: “Whilst investing can sometimes feel out of reach or complex, the Stocks & Shares ISA stands out as an entry point for people across the country to start building long-term wealth.
“What’s particularly striking is the momentum we’re seeing in our own data, with young investors leading a cultural shift towards investing and taking greater control of their financial futures.”
He added that he expects the Government’s retail investing campaign and the FCA’s new Targeted Support regime to continue to push more young people towards Stocks & Shares ISAs.
He said: “The Government has grand ambitions, and if well executed in partnership with industry, they could usher in a positive change to financial habits in the UK.”
The most popular Stocks & Shares funds invested in by Moneybox clients were the Fidelity Index World, iShares Overseas Corporate Bond Index, iShares Global Property Equity and Vanguard S&P 500 ETF.