The UK Chancellor’s recent call for Britons to move from cash to equities and the pledge to rebalance regulation in favour of driving more retail investment and economic growth have the potential to bring about historic change for the country.
While these developments present tremendous opportunity, there are no shortcuts to building a solid foundation for lasting change. The United States faced a similar challenge in the 1970s. There, a series of pivotal shifts reshaped attitudes toward saving, investing, and wealth accumulation, and redefined what it means to be an investor actively participating in a nation’s economic growth.
