Financial Services Compensation Scheme (FSCS) and the Financial Conduct Authority (FCA) today revealed in a study that 44% of investors wished they had spent more time researching their investment.
According to the study into the investment habits of retail investments, 42% of British investors of age 18 to 24, say their latest investment was made casually without any research. The study shows they did their investments were done while sitting in bed, watching TV/Netflix, at the pub, or coming back from a night out.
The data revealed that among 37% of UK adults who hold investments of between £100 and £50,000, almost half (44 %) did not do investment research because it was “time-consuming” or “too complicated.”
Lila Pleban, Spokesperson for FSCS, said:
With almost two in five adults holding investments in the UK, it’s clear there’s a growing appetite to start investing as online platforms are making it easy and accessible for everyone. But as our findings show, carving out time to research and look into investment opportunities is not always top of people’s to-do lists and unfortunately, puts them at a higher risk of being scammed or putting their money with an unprotected platform or provider.
