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Millennials' use of social media is helping to drive their investment decisions, according to Fabrizio Campelli, Deutsche Bank AG's global head of wealth management.

They have a "fear of missing out" as they're more "networked and exposed" through social media to their peers' activity than previous generations, Campelli said Wednesday during a discussion about millennial wealth at the Bloomberg Invest Summit in London.

Born between the early 1980s and mid-1990s, millennials' growing focus on investments that align with their personal values and lifestyles is forcing wealth managers to reassess their services. They're set to inherit as much as $30 trillion, according to research firm CB Insights, and their adulthoods align with the post-2000 inception of global social media networks like Facebook and Twitter.

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