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&#39Take Isas guides with a pinch of salt&#39

The FSA has issued a warning to consumers over Isa guides, telling them to make sure they “take them with a pinch of salt.”

FSA head of consumer education Deborah Arnott said consumers should always read the fine points and resist sending off a cheque straight away.

Last year, FSA managing director John Tiner said the regulator has problems with the guides, saying eight of the 14 looked at in the previous Isa season were not up to scratch.

This week, Arnott says the guides are “certainly not going to be the most suitable for everyone.”

Other tips included finding out who is selling the product and looking at what the Isa is invested in.

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The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

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