City watchdog warning: wealthy savers hold too much cash

Damning FCA reports finds wealthy savers are holding £10,000 or more in cash, but should invest instead or risk stagnated returns.

investing graph
(Image credit: Getty Images/Alistair Berg)

Households aren’t putting enough money aside and even the wealthy seem reluctant to invest, the Financial Conduct Authority (FCA) has warned.

The latest update on the nation’s finances from the City watchdog shows 61% of adults with £10,000 or more in investible assets are holding at least three-quarters in cash.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.