The 'Invest For The Future' campaign, backed by several financial services firms with support from the Treasury, the Financial Conduct Authority (FCA), and the Money and Pensions Service, aims to encourage more people to start investing, according to multiple reports. The campaign seeks to support more people in viewing investing as something for them and as a natural 'next step' from saving.
Research for the campaign suggests that seven in 10 (69%) people rarely or never talk about investing. It also found that 44% of people with savings but no investments – which could equate to 10.1 million savers across the UK – would be interested to learn more about investing. Previous FCA research has indicated that around seven million adults hold more than £10,000 in cash savings and could be missing out on the benefits of investing.
With greater awareness of the benefits of investing, more people will be able to make informed decisions about how to make their savings work harder for them. That will mean greater prosperity and financial resilience for households across the country and strengthened domestic capital markets, too.
Cash savings that can be easily accessed may be useful for emergencies, but excess savings may dent people's ability to achieve their long-term financial goals, according to reports. Many experts agree that between three and six months' of essential costs should be kept as an emergency savings buffer. Money kept in cash for long periods can actually lose value to the impact of inflation. Investments may potentially outperform cash savings over the longer term, but the value of investments can go down as well as up. People should consider the level of risk they feel comfortable with and any fees when weighing up investment options.
The campaign will roll out in phases, starting with digital and social channels, and be expanded to television from the autumn. It includes a character called 'Savvy the Squirrel' and 'savvy cabs' where taxi passengers can chat with content creators and investors about money and investing. A fleet of taxis will be transformed into 'savvy cabs' in Manchester this week. The campaign will run for between three and five years initially and could cost up to £8-10m annually, according to reports. Up to 20 financial services and investment platforms are providing funding for the campaign.
The UK has a strong savings culture but a significant investing gap with too many still feeling investing is not for them.
Lucy Rigby, Economic Secretary to the Treasury, said: "With greater awareness of the benefits of investing, more people will be able to make informed decisions about how to make their savings work harder for them. That will mean greater prosperity and financial resilience for households across the country and strengthened domestic capital markets, too."
Sasha Wiggins, Chairwoman of the retail investing campaign and CEO of private bank and wealth management at Barclays, said: "The UK has a strong savings culture but a significant investing gap with too many still feeling investing is not for them."
There is clear demand from millions of savers who want to do more with their money, but do not always feel confident about where to begin.
Chris Cummings, Chief executive of the Investment Association and deputy chairman of the retail investing campaign, said: "There is clear demand from millions of savers who want to do more with their money, but do not always feel confident about where to begin."
Emma Crystal, Chief executive of private banking & wealth management at NatWest Group, said: "Thinking about investing alongside saving is increasingly shaping the broader discussion about long‑term financial security. Saving remains an important way to build confidence and resilience, particularly in the earlier stages of financial planning."
Thinking about investing alongside saving is increasingly shaping the broader discussion about long‑term financial security. Saving remains an important way to build confidence and resilience, particularly in the earlier stages of financial planning.