Aunt Millie

Derogatory term for an unsophisticated investor. Wall Street professionals may say that "This investment will interest Aunt Millie," meaning that it is simple to understand. It may also imply that such small investors will not be able to appreciate the amount of risk posed by the investment relative to the opportunity for profit. Brokers and financial advisors, using the Know Your Customer rule, should not recommend complex and risky investments to Aunt Millie investors.