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Isas off to slow start


Sales of Isas through IFAs have got off to a very slow start, following the Pep bonanza of the last few months.


The new savings account appears to be suffering from a post Pep hangover. Reported sales on April 6, 1999 their first day has been slow, Fidelity Investments who had just broken their own record with Pep sales of £800m, say they have completed just 20 new Isa plans.


Chelsea Financial Services managing director Janice Thompson claims to have sold just a handful of Isas compared to hundreds of Peps on the same day last year.


Hargreaves Lansdown chairman Stephen lansdown says: &#34No one took any notice really. We are still shell shocked after Peps, but there are one or two applications going through.


&#34We are advising customers to wait and see what comes out on the market.&#34

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