TISA and industry partners, including the University of Nottingham, yesterday launched a wide-ranging Inclusive Investing initiative to make investing more accessible and equitable for all at an event in Parliament, with endorsement from Nadhim Zahawi and Lord Vaizey of Didcot.
Building on previous research, TISA aims to counter the broad investment gap which exists in this country. With women, those outside London and people from a wide range of other demographics keeping more of their assets in cash and investing less in Stocks & Shares ISAs.
The Inclusive Investment campaign utilises proprietary research, shareable social media materials and video content to achieve its aims. In collaboration with Schroders, Alpine Studios and Anna Brading at Mentora Money, TISA has also produced three social media videos targeting millennial and Gen-Y women living outside London to demonstrate more inclusive marketing.
More than 10 companies have joined the campaign including Schroders, Hargreaves Lansdown and Scottish Widows. TISA is calling on the industry to get behind the videos and get the word out there that women do invest; women can invest successfully and there's help to get started. Together, we can create greater awareness and drive meaningful change.
TISA's further research will be launched at TISA's Inclusive Investing Conference event on Monday, March 4th held at Schroders in London. The research includes:
· How more informative risk warnings impact gendered investment choices and what this means for risk and compliance teams.
· Launching a digital prototype demonstrating what future T&Cs might look like
Carol Knight, CEO at TISA, said: "Financial wellbeing for all is at the heart of TISA's mission. Statistics show a widespread investment gap, particularly affecting women and minorities as well as residents of UK regions outside London and the South-East. This needs to be urgently addressed.
"We are very pleased that politicians across all parties, the financial services industry and our sponsors in particular have given their full-throated backing for this Inclusive Investing campaign to address that challenge.
"We will be coordinating a broad campaign, and these videos are the first step of many in combating the investment gap in this country. More money in Stocks & Shares ISAs will benefit consumers nationwide, bolster UK industry and provide wide-ranging benefits to all stakeholders. It is therefore my pleasure to launch this campaign today."
"The University of Nottingham is delighted to have been involved in these projects. This work shows the power of collaboration between industry and academia, particularly in financial services, shown in the recent funding of the INFINITY HUB by Research England. The outputs of this work have the potential to transform the investment experience of consumers, bolstering an already thriving and innovative field."
Lesley-Ann Morgan, Global Head of Pensions and Retirement, Schroders, said:
"I'm delighted that Schroders has partnered with TISA to help women become more confident at investing. Although the FCA's Financial Lives Survey tells us that women are 1.3 times more likely than men to have a savings account, almost three-quarters of women say they don't feel confident investing, compared with only 58% of men.
"We know that over the long-term investment pays off and this initiative is focused on turning women's good savings behaviours into equally strong investment habits.
"Based on detailed research and a dedicated working group of experts from a range of backgrounds, we've come up with what we hope are some really compelling one-minute videos which aim to empower women. It is time to help close the gender investment gap."
Anna Brady at Mentora Money, said:
"I hope these films will inspire more financial discussions and content geared towards women. This experience reinforced the power of open conversations about money and their potential to empower women to explore investing with confidence."
