St. Louisans are becoming more conservative investors

Financial stress is prompting St. Louisans to pull back on their investments and choose more conservative vehicles, according to a study released Tuesday by Scottrade Inc., a discount and online investment firm based in St. Louis County.

The company provided results for St. Louis and a national sample. Survey Sampling Inc. conducted the study using members of its SurveySpot consumer panel. The survey included 1,031 people surveyed between July 11 and July 23.

Three quarters of area residents are feeling some financial stress - either about jobs, gas prices or housing. Of those, 65 percent said they were using money they’d normally invest to pay for gas, groceries and other bills.

The study showed that 20 percent of St. Louisans surveyed are worried about their jobs. Nearly half - 49 percent - say that concerns about the housing market and foreclosures are having an effect on their investing.

However, St. Louis investors in the survey seemed a little more confident than investors nationwide, the survey showed. In St. Louis, 28 percent said they were investing more conservatively, whereas 33 percent of the national sample said they were getting more conservative.

Chris X. Moloney, Scottrade’s executive director of customer intelligence, said:

“The realities surrounding the shaky economy are clearly impacting how St. Louisans approach their investments. Many people are making choices right now due to the economy that are interfering with their long-term financial goals. However, this study shows that a majority plans to invest more money in the next year.”