"But what's stopping millions of Britons from investing isn't lack of information, its deep-seated fear, according to new research which underlines the challenge the Chancellor faces, following her investment or decline-themed speech at the recent Labour Party Conference. UK adults are sitting on a combined £430bn* in savings, even though investing could give them a better chance of boosting their individual wealth and the UK economy."
"In the survey, nearly half (48%) of Intenders cited fear of losing money as their number one reason for not investing, almost twice the number who said they didn't know where to start (27%). Although low-fee, low-risk investment options are widely available, emotional barriers remain the dominant factor behind the public's reluctance to invest. Advertising and communications in the financial sector have tended to portray investment as a gamble and saving as a shield."
"The analysis suggests that the financial industry needs to change the emotional narrative around risk through advertising. AML calls on the advertising industry to help consumers make the critical emotional shift around investing, confront their fear and build belief and trust. Chancellor Rachel Reeves has announced that the government is prioritising getting people out of low-interest savings accounts and into investing as part of a strategy to bolster the UK economy."
Investment levels in the UK rank among the lowest of the world's richest nations. UK adults hold a combined £430bn in savings, even though investing could boost personal wealth and support the economy. Nearly half of people likely to invest cite fear of losing money as their main reason for not investing, while 27% say they do not know where to start. Low-fee, low-risk investment options are widely available, but emotional barriers and a financial-advertising narrative that portrays investment as a gamble and saving as a shield sustain public reluctance. Calls exist for advertising to change the emotional narrative around risk and build trust. The government is prioritising moving people out of low-interest savings into investing to bolster the economy.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]