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Multimillion-pound ad blitz to urge UK savers to put their money in stocks and shares WPP asked to work on ad blitz nudging UK savers to invest in shares
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City-funded campaign is endorsed by government, with marketing agency WPP approached to work on pitch Exclusive: City-funded campaign is endorsed by government, and aims to increase financial risk-taking in effort to spur growth
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An advertising blitz urging the UK public to invest in stocks and shares is to be launched by City firms. The government-endorsed campaign is expected to cost tens of millions of pounds. The advertising agency WPP has been asked to work up ideas for a government-endorsed advertising blitz to urge more consumers to invest in stocks through a “Tell Sid”-style campaign expected to cost tens of millions of pounds.
Plans for the “Tell Sid”-style push were announced by Rachel Reeves on Tuesday, alongside a fresh deregulation drive meant to increase financial risk-taking by savers in an effort to spur growth. Plans for the nationwide push were announced by chancellor Rachel Reeves on Tuesday at her Mansion House speech, as she unveiled a fresh deregulation drive meant to increase financial risk-taking across the country in an effort to spur growth.
The City is desperate to get money out of personal cash accounts and into stocks. The chancellor’s move is a victory for lobbyists who say it will not only deliver better returns for savers but also help revive the UK stock market. The government has thrown its support behind City lobbyists, which are desperate to get money out of cash accounts and into stocks, which they say will not only deliver better returns but help revive the UK stock market. It comes as the London Stock Exchange continues to lose stock market listings and floats to foreign rivals.
The announcement comes as the London Stock Exchange continues to lose stock market listings and floats to foreign rivals. The campaign – which the Treasury said “will help to explain the benefits of investing” – will be directed and funded by City firms including banks and investment platforms.
According to industry sources, the advertising agency WPP has been approached to work up potential ideas for the campaign, with a formal appointment still pending. Bidding advertising agencies are expected to take inspiration from a series of historic advertising drives touting public share ownership across Europe and the US, some of which were outlined in a report published by Barclays earlier this year.
Bidding agencies are expected to take inspiration from past drives touting public share ownership across Europe and the US, some of which were outlined in a report published by Barclays earlier this year. The report highlighted the Thatcher-era “Tell Sid” adverts, which encouraged everyday consumers to buy shares in the newly privatised British Gas in 1986. “If you see Sid … Tell him,” the catchphrase declared.
This highlighted the Thatcher-era “Tell Sid” adverts, which encouraged everyday consumers to buy shares in the newly privatised British Gas in 1986. “If you see Sid, tell him,” the catchphrase declared. Decades earlier, the US launched the “Own your share of American business” investment campaign. Running from 1954-1969, the campaign was aimed at improving the reputation of the New York Stock Exchange and “staving off communism”, the Barclays report explained. It was ultimately credited with boosting the number of share owners across the US from 4.2% to 10.4%.
Decades earlier, the US launched the “Own your share of American business” investment campaign. This ran from 1954 to 1969 and, the Barclays report said, was aimed at improving the reputation of the New York Stock Exchange and “staving off communism”. It is credited with boosting the number of share owners across the US from 4.2% to 10.4%. As of 2022, about 16% of US households directly owned stocks and shares. That compares with 11% of UK direct shareholders.
As of 2022, around 16% of US households directly owned stocks and shares. That compares with 11% of households in the UK. WPP has been approached about potentially working up some ideas for the new share-buying campaign, industry sources told the Guardian.
The Treasury said the new campaign “will help to explain the benefits of investing”. It will be directed and funded by City firms including investment platforms and the big five high street banks. WPP-owned agencies work with three of the big five high street banks, which are among the main backers and are likely to have influenced a decision to open discussions with the London-listed marketing services giant. The WPP agency Ogilvy works with Lloyds Banking Group, while VML handles the HSBC account and NatWest is with The & Partnership.
Of these, Lloyds, HSBC and Natwest already work with the WPP-owned agencies Ogilvy, VML and The & Partnership, which is likely to have influenced the decision to open discussions with the London-listed marketing services giant. A formal appointment is still pending. WPP declined to comment.
Last year, Reeves scrapped plans set in motion by the former Conservative government for a separate “Tell Sid”-style campaign featuring veteran newsreader Sir Trevor McDonald, aimed at selling the government’s remaining stake in NatWest.
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WPP declined to comment. The direction of the new campaign will ultimately be in the hands of the campaign’s City backers, made up of a wide ranging group including the London Stock Exchange, banks like Barclays, NatWest, HSBC, Lloyds Banking Group. It also includes the asset manager Schroders and investment platforms AJ Bell, Hargreaves Lansdown, Interactive Investor, and Robinhood UK.
Last year, Reeves scrapped plans by the previous government for a separate “Tell Sid”-style campaign featuring the former newsreader Sir Trevor McDonald. This was aimed at selling the government’s remaining stake in NatWest. They are due to set out the next steps for the drive later this summer. That will involve appointing a chair, setting the budget and hiring an advertising agency to lead the charge.
The direction of the new campaign will ultimately be in the hands of its backers, who are due to set out their next steps later this summer. This will involve appointing a chair, setting the budget and formally appointing an advertising agency. The group is being steered by asset management lobby group the Investment Association, while the Treasury, Money and Pensions Service and Financial Conduct Authority will support the campaign in an advisory capacity.
The group is being steered by asset management lobby group the Investment Association and includes the London Stock Exchange, asset managers Schroders and investment platforms AJ Bell, Hargreaves Lansdown, Interactive Investor, and Robinhood UK. They will collectively cover the campaign’s budget, which one expert said was likely to total around £50m-£60m. The adverts are due to be “multichannel”, meaning they are likely to run online, on TV and radio and via billboards and transport.
They will collectively cover the campaign’s budget, which one expert said was likely to be between £50m and £60m. The campaign is expected to be “multichannel”, meaning it will run online, on TV and radio and via billboards and transport advertising.
The Treasury, Money and Pensions Service and the Financial Conduct Authority will support the campaign in an advisory capacity.