Seven in ten (69%) of Londoners are planning on investing in the next year as they seek higher returns than are on offer through cash savings, according to research from new personalised wealth management platform, Stratiphy.
This is significantly higher than the average figure for the UK where just four in ten (43%) of people planned to invest during the next 12 months.
Londoners are increasingly prioritising investing – last year half (49%) of people in the capital invested, which is lower than the number who plan to during the next 12 months. Again, London is outperforming the rest of the UK as just a third (32%) of Brits invested last year across the whole country.
Those living in London are also investing a greater amount than those in other regions of the UK. The average amount invested last year by those living in London was £21,000, considerably more than those in the North-West, who, with an average annual investment of £14,000, were the second highest.
Six in ten (57%) Londoners believe that cash savings are as risky as investments, the highest proportion in the UK which has led many to turn to investing as an alternative to maximise their returns and avoid the relatively low yields on offer through cash savings.
Londoners are also increasingly calling for more sophisticated investment tools to help them secure higher returns on their money and beat inflation in a challenging economic climate. Nearly nine in ten (85%) investors in London want more control over their investments, the highest proportion in the country, as more investors want to be able to choose strategies that align with their own goals and risk appetite.
Indeed, around eight in ten (84%) investors in London also say personalisation is essential to them when investing. Despite this, nearly half (46%) don’t think the current investment options available offer the level of personalisation investors need to fully control their investment portfolios and strategies.
Daniel Gold, CEO and Founder of Stratiphy, said:
“Londoners have a huge appetite to invest and make their finances work smarter by beating low-performing cash savings.
“Potential investors from other regions in the UK should take note – Londoners are increasingly looking to take control of their money and improve their financial prospects. Investors across the country should be looking for similar opportunities to maximise their finances.
“Investors increasingly want to be able to personalise their portfolios to their financial goals and ensure they are maximising their returns. In order to achieve this they need accessible investing tools that unlock the potential of sophisticated wealth management techniques, such as AI-powered back-testing to provide transparency around past performance, as well as automated investing to make the whole investing process fit in with their busy lifestyles.”
New wealth management platform, Stratiphy, has launched to empower investors to take control of their investments and to meet their individual goals and risk appetite by providing investors with access to personalised and AI-powered investment strategies.
Stratiphy offers everyday investors an AI-powered investing toolkit that offers back-testing and investment automation, replicating the approach taken by investment professionals in a simple and intuitive format. The back-test function enables users to see a realistic simulation within seconds, demonstrating how their personal portfolio would have evolved over a 10 year period, providing sophisticated insight into long-term historic performance. This is designed to improve decision-making and reduce barriers to building personal portfolios.
Stratiphy’s model unlocks wealth management for those typically priced out of these services – its subscription-based model provides cost transparency and certainty for retail investors who otherwise would not be able to access personalised investment strategies to meet their goals.