Holly Mackay, chief executive officer at Boring Money, said: “The majority of Brits see investing in the same light as gambling, a risky pastime for those who can afford to lose their money.
“We need to get the message across that investing is actually a very sensible and mainstream thing to do with our longer-term money.
“Our research confirms that fear of loss is the number one turn-off for cash savers. And yet we also know that over the last 20 years, £1,000 in cash would have grown to £1,425 and £9,296 if invested in the US stock market.
“I’m hugely supportive of this campaign and every step taken to show people what they might make, to talk about returns at the same volume as we talk about risk, and to be clearer with people on sensible courses of action.
“We need to take investing out of the members’ clubs and into the school run, into the pub and onto our screens.
“Information and awareness is one thing. Actually getting started is another.
“With thousands of funds to choose from, investors want a trusted independent voice to help them get started.
“AI is making more information available, but it’s not always trusted.
“We’ve seen huge growth at Boring Money as readers seek help to get started.
“I also think that Targeted Support has a vital role to play in enabling millions of cash-only savers to take the first step into investing.
“Our research suggests that there are over five million people in the Advice Gap today who can be helped by Targeted Support.”
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