So chancellor Rachel Reeves wants to convert us into a nation of investors, to throw off our cautious cardigans and take more risks with our savings. An industry-led advertising campaign will highlight investment opportunities, while targeted support powers from April 2026 will allow banks to guide customers from low-return accounts toward higher-performing investments.
But what will this advertising campaign actually say to persuade Britain’s famously risk-averse savers? And how will banks convert regulatory permission into customer action?
One of the many issues isn’t so much getting savers to invest; it’s getting people comfortable with the basic concepts of long-term investing. And that means overturning some deeply ingrained behavioural instincts, changing the language we use and making investing sound relevant to ‘working people’.
A mountain to climb
The government’s bold projection – that moving £2,000 to stocks and shares could make millions of people over £9,000 better off in 20 years’ time – is eye-catching, but it requires customers to embrace three counter-intuitive behaviours that go against natural human instincts.
Invest little and often, diversify, and then leave it the F alone so it can do its thing.
It isn’t so much getting savers to invest; it’s getting people comfortable with the basic concepts of long-term investing
As we already know from working with advice clients, these instincts represent a complete rewiring of how most people think about money. Banks can’t simply hand over a stocks and shares Isa application and expect customers to embrace this alien behaviour.
Language, Timothy
Research by AJ Bell found that only one in five cash Isa savers would migrate to UK stock market investing if cash limits were cut. The problem isn’t Isa mechanics; it’s that most people – especially young people – don’t see this kind of investing as relevant to their lives.
The phrase ‘stocks and shares’ sounds dusty and exclusive, tied to an era of noisy trading floors, brick phones and cigar smoke.
In reality, saving today can be as simple as buying a coffee through an app. If we want more people to invest, we need to make it sound like something they already do.
This means developing communication strategies that make investing feel normal rather than exotic. We need to frame investment as an extension of existing, everyday banking behaviours, not a departure from them. Just as there are current accounts and savings accounts, there are also cash savings and ‘growth’ savings.
There’s also the issue of risk. A YouGov survey found 55% of the public are unwilling to invest in stocks and shares, with 65% citing them as “too risky”.
The language puts people on the defensive, associating investing with speculation rather than systematic saving
If it’s not the 1980s images of cigars and red braces that investing evokes, it’s coke-addled day traders glued to screens and fortunes made or lost in a heartbeat. Not sensible long-term wealth building. The language immediately puts people on the defensive, associating investing with speculation rather than systematic saving.
So we need new words. Why not ‘growth accounts’? Boring yes, but instead of emphasising the complexity and risk, we need to get comfortable with rebranding the simplicity of regular investing and the power of time – that compounding thing I wish I’d taken note of when someone told me about it in a bar in 1998 (fun times).
The cultural problem
There’s a deeper issue too. Saving – let alone investing – is increasingly seen as something that ‘other people’ do. Not just ‘wealthy’ people, but sensible, prudent people who get a kick out of spreadsheets and compound interest calculations in the same way some people enjoy tracking their steps or counting calories. For most people though, saving doesn’t spark joy.
We need to focus less on the mechanics and more on the story: what can your money do for you and why does it matter? Instead of leading with risk warnings and performance disclaimers, banks need to start with dreams and goals, then show how systematic investing makes them achievable.
Faith Liversedge: The authenticity imperative
When savings do have clear, specific objectives, they can be very successful. Lifetime Isas (Lisas) provide compelling evidence: around 1.3 million accounts were open by the end of 2023/24, with the scheme helping almost 230,000 savers get onto the property ladder since launch. Around one in six first-time buyers in the past year used a Lisa when buying their first home.
What makes this even more striking is the demographic: Lisas are specifically targeted at 18-39 year olds – the group that traditional investment marketing struggles to reach. These are young people actively saving up to £4,000 a year and engaging with long-term financial planning, despite being the generation most often dismissed as being too focused on avocado toast to think about their financial futures.
The Lisa works because it answers three crucial questions that general investment campaigns struggle with: why should I save, what am I saving for, and what’s the specific benefit? The government 25% bonus provides immediate, tangible value. The £450,000 house price cap gives a concrete target. The dual purpose of homebuying or retirement provides flexibility while maintaining focus.
Compare this to asking someone to invest in ‘stocks and shares’ for vague long-term benefits. Lisas succeed because they make the abstract concept of long-term saving feel concrete and worthwhile.
The opportunity
Banks will need partners who understand the behavioural challenge, not just portfolio construction. Those who can craft compelling customer journeys that address psychological barriers – that explain how £2,000 invested today can become £9,000 in 20 years – and make that journey feel achievable and worthwhile rather than intimidating.
Lisas succeed because they make the abstract concept of long-term saving feel concrete and worthwhile
HMRC figures show two-thirds of cash Isa savers contribute no more than £5,000 annually. These aren’t people hoarding vast sums; they’re regular savers who could be guided toward long-term investing with the right approach.
A ‘Tell Sid’ style advertising campaign alone won’t solve Britain’s retail investment problem. The real work begins when customers walk into bank branches or log into their online accounts, intrigued by the advertising but still fundamentally uncertain about whether investing is “for people like them”.
Faith Liversedge is a marketing consultant. Visit her website here
