'Savvy the Squirrel' part of major new campaign aiming to boost UK’s investment culture

A survey commissioned for the campaign indicated that 44 per cent 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 over £10,000 in cash savings and could be missing out on the benefits of investing.

Cash savings that can be easily accessed may be useful for emergencies but those behind the campaign said excess savings may dent people’s ability to achieve their long-term financial goals.

Investments may potentially outperform cash savings over the longer term but the value of investments can go down as well as up and people should consider the level of risk they feel comfortable with. People may also want to consider any fees when weighing up investment options.

The campaign aims to support more people in viewing investing as something for them – and that investing could be a natural “next step” from saving.

It will roll out in phases, starting with digital and social channels, and be expanded to television from the autumn.

The campaign will include a character called “Savvy the Squirrel” and include “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, those behind the campaign said.

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.”

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, CEO 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, while investing can play a complementary role as longer‑term goals come into focus.”

Richard Flint, CEO of Hargreaves Lansdown, said: “Too many people in Britain feel that investing isn’t for them. This campaign is about building confidence and awareness, so more people feel able to take that first step and make their money work harder for them.

“People won’t change their behaviour overnight but through creating an engaging and simple campaign to answer people’s questions, we hope that a traditionally dry subject will become more accessible and real.”

Sarah Pritchard, deputy chief executive of the FCA, said: “We want consumers to navigate their financial lives with confidence and invest for the future.

“This campaign is an important part of that, building the stronger investment culture we need. It sits alongside our targeted support rules which will help millions make informed decisions about their finances.”

Changes were made from April 6 meaning some firms can offer targeted support to help people make better-informed decisions about what to do with their money, based on what they would recommend to those in similar circumstances.

Targeted support aims to fill the gap between people receiving general guidance and paying for individualised advice, enabling more people to make informed decisions.

In December, the FCA said at least 18 million people could be offered extra help with their investments and pensions over the next decade with the introduction of targeted support.

Opinium carried out the survey of 4,000 people across the UK in April.