Recent figures suggest that British Savers are currently holding back from investing in the securities markets due to financial tumult and the cost-of-living-crisis throttling household budgets across the country. Statistics indicate that new investments stalled in the third quarter of 2022, with the main haul of new money instead funnelling to cash savings.
Britons looking to grow their wealth despite turbulent market conditions often seek out independent financial advice in Chester, London and other major cities. Wealth managers help their clients weather market volatility by constructing diverse investment portfolios that effectively balance potential risk with reliable returns.
UK watchdog the Financial Conduct Authority (FCA) has warned that the increasingly worse economic situation in Britain this year has negatively impacted many households’ inclinations and capacity to make long-term investments.
Data from the FCA showed that the number of brand-new investment accounts being opened dropped by close to 50 per cent in the first half of 2022.
Market uncertainty and economic difficulties here in the UK have become worse following the ex-chancellor’s “mini budget”, an initiative that spooked financial markets and sky rocketed mortgage rates.
Experts have commented that the number of UK households that can rise above both the increased cost of living and the risks associated with volatile markets is small and that many people are reluctant to top up their present account or make new investments. However, they are urging those who have the capacity to make their money work harder for them to keep investing in a systematic way.
