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Institutional vs. Retail Investors: An Overview

All types of investors are not the same, and there are a number of differences between those who are considered institutional investors and those who are seen as non-institutional, or retail, investors. Understanding the difference is worthwhile. If you are considering an investment in a particular stock or mutual fund that you have seen publicized in the financial press, there is a good chance you do not qualify as an institutional investor. In fact, if you are even wondering what an institutional investor is, you are probably not an institutional investor. Let us take this opportunity to lay out some of the differences.

KEY TAKEAWAYS

• An institutional investor is a person or organization that trades securities in large enough quantities that it qualifies for preferential treatment and lower fees.
• A retail investor is a non-professional investor who buys and sells securities through brokerage firms or savings accounts like 401(k)s.
• Most institutional investors invest other people's money on their behalf.

Institutional Investors

Institutional investors are the big guys on the block—the elephants. They are the pension funds, mutual funds, money managers, insurance companies, investment banks, commercial trusts, endowment funds, hedge funds, and also some private equity investors. Institutional investors account for about three-quarters of the volume of trades on the New York Stock Exchange. They move large blocks of shares and have a tremendous influence on the stock market's movements. Because they are considered sophisticated investors who are knowledgeable and, therefore, less likely to make uneducated investments, institutional investors are subject to fewer of the protective regulations that the Securities and Exchange Commission (SEC)

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