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No Isa confusion, claims network

Isas are not proving too confusing for the public, according to IFA Network.

The network&#39s survey of 1,061 people found nearly a quarter said their

main reason for taking out an Isa was to build up capital, 19 per cent to

aid their retirement planning and 13 per cent to support their children in

the future.

IFA Network says these findings dispel the image that Isas are too complex.

But the Consumers&#39 Association warns that investors may fall foul of Isa

rules because of poor advice from advisers.

Due to the rush to sell Isas before the end of the tax year, the

Consumers&#39 Association fears IFAs are not taking the time to explain the

Isa rules adequately.

The association says the differences between mini and maxi Isas and how

much can be invested are not clear.

Which? principal researcher Teresa Fritz says: “The survey is quite

contrary to a lot of research done not just by us but by also a lot of

other people in the industry.

“To be perfectly honest, none of us are going to know until we know how

many people have gone over the limit without knowing it.”

An IFA Network spokesman says: “Our view is that the Isa is actually quite

straightforward. For a number of consumers, especially those who take out a

cash product, Isas are very sound.”


Euro funds talking telephone numbers

European funds have been flying in the last six months and it is helpingthe likes of Invesco and Gartmore to boost sales in the run-up to the endof the tax year.The Invesco European growth fund has swelled to more than £3bn from £250min the last two years and is the main reason why the company […]

IFAs fear life office powers in ABI scheme

IFAs fear that life offices could become judge, jury and executioner inthe way they conduct their business under the latest proposals from theABI.The proposals, part of the ABI&#39s Savings and Long Term Risk adviceaccreditation project, suggest life offices will be able to take actionagainst individual IFAs if they believe the way the adviser conductsbusiness threatens […]

Profile – Nigel Mitchell

Chase de Vere Investments managing director Nigel Mitchell might not makeit into his own firm if he were applying for a job these days.Mitchell does not have a degree but makes much of recruiting graduatesalthough he qualifies this by saying it is degree-calibre candidates he islooking for.The recruitment strategy seems to be meeting with success. […]

AssureSoft plots route to IFAs&#39 door

AssureSoft is planning to give every IFA their own website to literallylead customers to their doors with an online map from clients&#39 homes to IFAoffices.Consumers who input their address are provided with a map and directionsto their nearest or preferred IFA.The DBS-owned software provider says, unlike other electronic applicationand quotation services which provide only contact […]


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