The Financial Conduct Authority (FCA) is launching a new financial guidance and support strategy. Its aim is to give consumers the confidence to invest and unlock the full potential of their money. Here is everything you need to know about this new initiative.
Why is the FCA encouraging Brits to invest?
According to the FCA, millions of UK savers could be missing out on wealth creation by holding too much cash.
There are currently 8.6 million consumers in the country who are holding more than £10,000 of investible assets in cash.
The financial watchdog aims to reduce the number of people who could be missing out on possible investment earnings by 20% by 2025. This equates to approximately 1.7 million Brits with more than £10k in cash savings making the…