People keep two thirds of savings in cash

Cash savings are still overwhelmingly preferred by British people.

However, those who invest tend to have much higher levels of wealth - even if they are not on a high income, new research has revealed.

The average British adult with savings or investments holds nearly two thirds of it in cash, as opposed to stocks and shares.

But research from wealth management firm St. James's Place has revealed the wealth gap between those who invest and those who do not.

Among households earning up to £20,000 a year, investors have wealth worth more than four times that of non-investors, its research claims.