• The need to shrink the global investing gap is increasingly urgent due to ageing populations, deteriorating public finances and the shift to defined-contribution retirement schemes.

  • Yet policymakers face complex challenges in designing retail investment systems that foster strong long-term investor outcomes and robust capital markets.

  • This research paper builds on Vanguard’s decades of research and experience to offer a set of measures intended to support policymakers’ informed decision-making.

  • By encouraging individuals to invest, we can drive greater financial security for millions of people and build more resilient retail investment systems.

Core components of a successful retail investment system

Globally there is a vast pool of cash savings – an estimated $51.7 trillion – but too few people put these savings to work in the financial markets. Our research outlines eight policy recommendations to encourage individuals to invest.

 Download paper now

Vanguard 365

Offering insights, tools, events, client-facing resources and much more, across the five core areas you told us matter the most to you - and it all counts towards your CPD.

Find out more

Related content

Jun 10, 2025 30 min

The emotional and time value of advice

Research shows that clients increasingly value the emotional aspects of good financial advice. Our latest study explores the perceived emotional and time value of advisory services through a survey of advised and non-advised investors. We also offer guidance on best practices to help your clients achieve peace of mind through your services.
Jun 10, 2025 30 min

Quantifying Adviser's Alpha® in the UK: Putting a value on your value

Quantifying Adviser’s Alpha® in the UK builds on previous studies by identifying seven key wealth management activities through which advisers can add meaningful and predictable value to their clients’ returns.
Feb 1, 2025 30 min

The value of personalised advice in the UK

This latest study in Vanguard’s Adviser’s Alpha research series explores how financial advice providers in the UK can calculate a personalised value of advice for individual clients, based on the individual’s unique needs and circumstances. The study is tailored for investors based in the UK, to reflect the current tax and investing landscape in the UK.
Feb 1, 2022 30 min

The value of human and robo advice

Our research focuses on how investors value the advice they receive from human and robo-advisers, and what this means for advisers who want to fine-tune their proposition and optimise their value-add for existing and potential clients.