A major new campaign backed by several financial services firms, and supported by the Treasury, the Financial Conduct Authority (FCA) and the Money and Pensions Service, aims to educate the wider public about the benefits of investing.
The launch of Invest For The Future is targeted at helping more people see investing as a natural “next step” from saving, amid research suggesting that nearly seven out of 10 (69 per cent) people rarely or never talk about investing.
According to a survey commissioned by the campaign, 44% of those with savings but no investments – an estimated 10.1 million savers – are interested in finding out more about how investing could grow their money.
The campaign will roll out in phases, beginning with digital and social channels before expanding to television in the autumn.
To promote the initiative further, the “Savvy the Squirrel” mascot will be the face of the campaign, and a fleet of “savvy cabs” taxis, where passengers can chat with content creators and investors about money and investing, will be in Manchester this week.
While cash savings are helpful for emergencies, it can limit progress towards long-term financial goals compared to investments. Over time, investments often outperform cash, though they carry risks and fees that people should weigh against their own comfort level.
“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,” noted Chris Cummings, chief executive of the Investment Association and deputy chairman of the retail investing campaign.