IFAs are beating off the challenge from their tied rivals in the Isa stakes according to latest figures from Autif.
The Autif figures for June reveal IFAs won the battle over their tied rivals securing 39 per cent of unit trust and Oeic Isa sales compared to 37 per cent for their tied counterparts and 16 per cent for direct sources.
But despite the optimism for IFAs, sales still lagged behind those of Peps for the same period last year. Gross Pep sales for June 1998 were £866m compared to Isa sales this year of £589m.
Regular savings into Pep and Isa plans were also down in the second quarter of the year compared to the first. Figures show a 16 per cent drop from 1.76m in the first quarter to 1.34m in the second.
Autif's director of communications Anne McMeehan says: "We do not believe it is a conscious effort by the public not to invest on a regular basis but, unlike bad habits, the saving habit is too easy to quit."