The Investing and Saving Alliance (Tisa) and industry partners have launched an initiative to make investing more accessible for all individuals.
At an event at parliament, with endorsement from Nadhim Zahawi MP and Lord Vaizey of Didcot, Tisa said it aimed to counter the investment gap which exists in this country.
It found that women, those outside London and people from a wide range of other demographics keep more of their assets in cash and invest less in stocks & shares Isas.
The inclusive investment campaign uses research, shareable social media materials and video content to achieve its aims.
Carol Knight, chief executive officer at Tisa, said: “Financial wellbeing for all is at the heart of Tisa’s mission.
“Statistics show a widespread investment gap, particularly affecting women and minorities as well as residents of UK regions outside London and the South-East.
“This needs to be urgently addressed.”
Tisa said more than 10 companies have joined the campaign including Schroders, Hargreaves Lansdown and Scottish Widows.
In collaboration with Schroders, Alpine Studios and Anna Brading at Mentora Money, it has also produced three social media videos targeting millennial and Gen-Y women living outside London.
Knight said: “We are very pleased that politicians across all parties, the financial services industry and our sponsors in particular have given their full-throated backing for this inclusive investing campaign to address that challenge.
“We will be coordinating a broad campaign, and these videos are the first step of many in combating the investment gap in this country.
“More money in stocks & shares Isas will benefit consumers nationwide, bolster UK industry and provide wide-ranging benefits to all stakeholders. It is therefore my pleasure to launch this campaign today.”
Tisa is calling on the industry to get behind the videos and get the word out there about women investing.
Lesley-Ann Morgan, global head of pensions and retirement at Schroders, said: “Although the FCA’s Financial Lives Survey tells us that women are 1.3 times more likely than men to have a savings account, almost three-quarters of women say they don’t feel confident investing, compared with only 58 per cent of men.
“We know that over the long-term investment pays off and this initiative is focused on turning women’s good savings behaviours into equally strong investment habits.
“Based on detailed research and a dedicated working group of experts from a range of backgrounds, we’ve come up with what we hope are some really compelling one-minute videos which aim to empower women. It is time to help close the gender investment gap.”
Anna Brady at Mentora Money, added: “I hope these films will inspire more financial discussions and content geared towards women.
“This experience reinforced the power of open conversations about money and their potential to empower women to explore investing with confidence.”
sonia.rach@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
