The wealth and asset management firm’s survey of 3,092 UK adults reveals three in ten (30%) UK adults say they lack the knowledge to manage their investments themselves, highlighting a widespread confidence gap.

This is most acute among women, with 36% saying they don’t feel equipped, but still significant among men (25%) and, according to Rathbones, is unchanged however wealthy people are.

The findings come just weeks ahead of a UK government‑backed, nationwide retail investment campaign, aimed at raising awareness of the importance of investing for individuals’ long‑term financial wellbeing and its wider value to the UK economy.

This ambition closely aligns with Rathbones, whose vision is to help more people invest well so they can live well, by demystifying investment and providing the support and guidance many people want and need.

Jane Sydenham, senior investment director, at Rathbones, said: “As the government looks to encourage more people to engage with investing, these findings highlight a critical issue – encouraging people to invest only works if they feel confident and willing to make investment decisions.

“Managing investments today involves an understanding of investment risk, tax, long-term planning and competing priorities, which helps explain why uncertainty remains common even among high earning and high wealth groups, and is particularly acute for those balancing busy working lives or dealing with sudden wealth.”

The survey also shows that confidence is lowest among working‑age adults, especially those aged 30–44 (35%), before falling to 24% among those aged 65–80. Although many people may, due to lack of time, knowledge or inclination, put off investing and simply save surplus income instead, this can carry a cost and reduce their longer-term wealth as a consequence, Rathbones warns.  

Gordon Lawrie, head of Edinburgh Office at Rathbones, said: “What we see, particularly with professional people or those working in full-on roles in business and the corporate world, is a lack of both time and inclination.

“Many professionals with significant earnings or assets don’t want to spend limited free time working out how to make the most of it – which is what we do. 

“Our clients know they can rely on us to navigate the complexities of investing, tailoring our approach to their specific circumstances and risk appetite.” 

Will Mcintosh-Whyte, fund manager for the Rathbone Multi-Asset fund, said: “Investing early in your life allows savers to take advantage of the power of compounding – so the fact that the highest percentage of those lacking the knowhow to invest is in younger age brackets is a bit of a concern and could be a headwind to those participants achieving their longer-term financial objectives.”

Higher levels of wealth do not eliminate uncertainty. While confidence improves for some mid-wealth groups, concern rises again among the wealthiest respondents. Nearly a third (30%) of those with £1m+ in net assets say they don’t feel confident managing their investments independently - highlighting how financial complexity often increases alongside wealth.

Mr Mcintosh-Whyte continued: “Investing – carefully risking money to grow it – has fallen out of favour in the UK. Too many of us sit on cash rather than invest in stocks and bonds, which have been proven to deliver better results over the long term.

“With the UK incredibly underinvested, this means millions are missing out on returns that could leave them better off and better prepared for retirement.”