In May 2022 19.5m adults held an investment product (excluding investment property and other real investments), up from 29% (14.6m) in 2017.

Direct holdings of shares and equities remained the most commonly held investment products. The overall number of adults holding these investments increased 1% since 2020 to 21%.

There was an almost threefold increase in the proportion of adults holding cryptoassets between February 2020 and May 2022: from 2% to 5.8%.

There was a significant increase in the number of younger adults investing.

In February 2020, just 19% of 18–34 year olds had investments but by May 2022 this proportion had increased to 29%.

In 2022, 70% of adults had a savings account of any type, down from 72% in 2017.

While the most widely held savings products in 2022 were savings accounts with a bank, building society or with NS&I (held by 54%) and cash ISAs (28%), both have declined in popularity since 2017 (59% and 37% held these in 2017, respectively).

The Financial Lives survey shows a significant protection gap.

Just over half (53%) of all adults did not hold any protection products at all.

The protection gap was most prevalent among those aged 18-24, unemployed, with a household income of less than £15,000 a year, renting, single, with low or no confidence in managing their money or with characteristics of vulnerability.