A new survey of retail investors, conducted by InvestorHub in partnership with ShareSoc, finds that UK listed companies are falling short on communication. Shareholders cite honest reporting, clear financial information and direct access to C-Suite executives as the areas most in need of improvement.
The findings emerge as London continues to lose listings to New York and other international markets, with IPO activity on the London Stock Exchange at decade-long lows.
The research adds a new dimension to a debate that has so far focused almost entirely on regulatory reform, stamp duty, and pension fund allocation.
Where policymakers have looked outward for explanations, the survey points inward. Retail investors comment that the way listed companies communicate with them has not kept pace with their needs, and the gap between what is being delivered and what is being provided has grown wider, not narrower.
What investors say is missing
Respondents were asked to identify what was currently absent from company communications. The research found a consistent pattern across every measure tested.
| What is missing from company communications | Respondents (%) |
| Transparency | 53% |
| Clear financial data | 48% |
| Forward-looking statements | 45% |
| Frequent updates | 38% |
| Engagement opportunities with leadership | 34% |
When respondents were asked what single area needs the most improvement, clarity of information ranked first (33%) followed by transparency in reporting (29%), frequency of updates (18%) and access to leadership (12%).
How investors want to be reached
The InvestorHub and ShareSoc research identifies a distinct mismatch between how companies choose to communicate and how investors want to receive information.
Email newsletters rank as investors’ clear first choice. The channel preference data suggests that many listed companies are directing resources towards formats their shareholders are largely not using, while underinvesting in the direct, substantive communication investors say they prefer.
| Preferred communication channel | Average rank (1 = best, 6 = worst) |
| Email newsletters | 2.6 |
| Company website updates | 3.0 |
| Webinars or virtual events | 3.0 |
| Press releases | 3.1 |
| Investor apps or platforms | 3.2 |
| Social media | 5.1 |
The study also finds that detailed financial analysis is the single biggest driver of engagement (average rank 2.4 out of 5), with tailored updates second (2.6).
Success stories and corporate case studies ranked last (3.7), suggesting investors are more interested in being given the facts than in being sold a narrative.
Larger investors want more from company leadership
The research finds a clear relationship between portfolio size and the appetite for direct contact with management, with expectations rising sharply as investment size increases.
For investors committing significant sums over many years, a polished investor presentation is no substitute for hearing directly from the chief executive.
Regular CEO video updates are cited by 114 respondents as a factor that would make them more likely to invest, and the appetite for this kind of personal communication increased with portfolio size.
| Typical Investment Size | Want direct access to leadership (%) |
| £1,000–£10,000 | 44% |
| £10,000–£50,000 | 51% |
| £50,000–£100,000 | 53% |
| £100,000–£500,000 | 56% |
| £500,000+ | 67% |
For listed companies seeking committed, long-term capital, the findings suggest that better communication from the company’s leadership may be one of the most straightforward steps available.
Lord Lee of Trafford, patron of ShareSoc said,
“I am pleased that InvestorHub and ShareSoc have carried out this useful survey giving listed companies insight into the communication preferences of retail investors. My own experience, in over 60 years of investing, agrees with much of the report recognising the importance of direct, transparent contact with the CEO. With the government’s increasing efforts to encourage individuals to invest more of their savings in the stock market, it is a good time for all listed companies to review and improve their retail communications and those who do it well should be rewarded.”
Alex Stella, Managing Director of InvestorHub said,
“The investor relations playbook has not fundamentally changed since the 1990s.”
“Annual reports, the biannual webinar, the regulatory announcement, and social media post are all being used, but our research tells us that individual investors want clearer financial information and direct access to the people running the businesses they have backed, not a press release or a LinkedIn post as a substitute. The companies that recognise this and act on it will find that retail shareholders are among the most loyal and patient supporters they have.”
“The modern retail investor, particularly one investing significant sums over many years, expects to feel that the leadership of a business regards them as a genuine partner. A short, honest video update from a CEO does more to build that relationship than any amount of polished corporate literature.”
The research was conducted by InvestorHub in partnership with ShareSoc, the independent not-for-profit organisation representing individual shareholders in the UK.
