An extraordinary 95 per cent of Londoners don’t have any form of investment portfolio, new research has shown.
According to investment app Dabbl, even though approximately three quarters (74 per cent) of London residents have considered starting a portfolio, just five per cent went on to take action on their investments.
Almost three in ten (27 per cent) Londoners aged between 18 and 55 said that they found the idea of portfolio creation “too complicated”, while almost one quarter (24 per cent) said that they wouldn’t know where to start.
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A further 34 per cent said that they believed running an investment portfolio would be “too risky.”
“The findings of this survey revealed the true extent of the lack of confidence, tools and know-how amongst young people in the UK when it comes to investing money,” said Dabbl co-founder and chief executive Mark Ackred.
“This is something that could have a real impact on the future of British businesses, who rely heavily on investment to grow and develop.
“The truth is, people with all ranges of income can begin building a portfolio – something that can hold them in good stead for the years to come. It doesn’t have to be a complicated, confusing process – and we are calling upon all people in the UK who have considered dipping their toe in the world of investment to give it a go.”
Dabbl’s research went on to suggest that Londoners may be more open to investing in stocks and shares if they felt a more personal connection with listed companies.
Almost three quarters (71 per cent) said that they have considered investing in their favourite brands, and 72 per cent said that they would be more likely to invest their money in a brand that cares social and ethical issues.
Technology, beverage and food brands were named as the three sectors that Londoners are most likely to invest in, if they were to create a bespoke investment portfolio of their own.