Push private wealth into stocks, experts suggest

Britons looking at their personal wealth management have been told to invest in the stock market rather than traditional savings accounts.

Low rates of interest alongside current levels of inflation and taxation mean that savings accounts provide no real benefits at the moment, the Daily Telegraph stated.

The article highlighted recent research by finance website Moneyfacts, which showed only three savings accounts out of more than 2,000 gave any sort of return.

Chelsea Financial Services managing director Darius McDermott told the newspaper high-yielding funds will usually perform better.

"Of course your capital could increase or it could fall," he said. "That's the risk, but I would put my £1 into equities every single time."

The Office for National Statistics recently revealed Consumer Price Index inflation increased from 3.2 per cent to 3.3 per cent in November, while the Bank of England's Monetary Policy Committee decided to keep the base interest rate at 0.5 per cent for the 21st month in a row.

The current rate of inflation could push the FTSE 100 to new heights, Daily Telegraph finance editor Ian Cowie said today (December 15th).
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