View more on these topics

Isa confusion still rife

Isa confusion is still rife with 20 per cent of investors totally clueless about what type of Isa they have bought.


The Gavin Anderson & Company Investment Funds Survey reveals that despite the confusion there is a significant uptake of Isas, with 26 per cent of those surveyed saying they have already invested in one.


The encouraging start to Isas is further underlined by the fact 36 per cent of the survey say they are likely to invest in the future.


The survey reveals further doom and gloom for IFAs with 47 per cent of those with Isas choosing to buy it through their bank or building society. While only 26 per cent chose a specialist unit trust company.


But, there is a potential glimmer of hope for IFAs with almost 70 per cent saying they chose to invest in a company where they have an existing Pep or unit trust.


While 48 per cent of those looking to invest say they would favour a specialist unit trust company.


Gavin Anderson & Company director Brenda Bates says: &#34The survey proves although there is a real appetite for tax efficient savings, there is an enormous amount of confusion when it comes to understanding the different types of Isa available.&#34


Investor were found to be optimistic about the future for unit trusts with 65 per cent saying they are confident about growth prospects.


But the company says this bullishness is tempered by caution remaining over last years stockmarket knocks and the confusion surrounding Isa as a replacement for Peps.

Recommended

PIA fines and reprimands IFAs over pensions review

The PIA has taken disciplinary action against two IFA firms over compliance failings resulting from the pensions misselling review.Barnett Rawlinson Bentley Financial Services of Mayfield House, Basford Park Road, Newcastle Staffordshire is reprimanded and fined £15,000. It is also ordered to pay PIA costs of £4,200.Wilkinson Rodgers Life and Pensions Consultants of Greenhead House, 2 […]

Exclusive Connections discounts for five years

Mortgage packager Exclusive Connections has launched a five year discount rate loan.The discount rate over the five years is 1.25 per cent giving a payable rate of 5.64 per cent.Loans are available up to 95 per cent loan to value. There is also a £300 cashback.The redemption penalty for early repayment is nine months&#39 interest […]

Leeds & Holbeck Building Society launches fixed rate mini-cash Isa

Leeds & Holbeck Building Society is launching a three year fixed rate mini-cash Isa.The rate is fixed at 6.75 per cent and the minimum investment is £1.No withdrawals are permitted during the term and closure of the account before maturity will result in a penalty of 90 days loss of interest.The Society&#39s operations director Chris […]

Government pensions policy based on false analysis

The Government&#39s new pension policy is based upon false analysis of the modern labour market according to a report in today&#39s Financial Times.This accusation is levelled at the Government by the National Association of Pension Funds.Its chairman Alan Pickering says some of the assumptions on which the policy is based are &#34at best only partially […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment