Simple access to a wide range of investment products, incentives to adopt a long-term perspective and the freedom to switch service providers without undue costs are crucial elements of an investor-friendly framework for retail investments.
In that regard, BETTER FINANCE, the European voice of individual investors, strongly welcomes the European Commission’s intention to promote simple and portable investment savings accounts as an essential step towards a genuine savings and investments union (SIU) that caters to the basic needs of all EU citizens as individual savers and investors.
BETTER FINANCE draws the Commission’s attention to the need to ensure that investment savings account as a minimum given holders access to simple, cost-effective investment products with a long-term orientation such as equity, bonds and ETFs.
We believe that full and costless portability of investment savings accounts across providers and across borders, which would be a cornerstone of a SIU, should be a key objective of EU action.
Finally, we cannot stress enough the importance of designing tax frameworks that create powerful incentives for individuals to invest their savings with a long-term perspective while offering them flexibility in managing and accessing their financial assets.
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