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Slow start to Isa sales blamed on lack of product literature

The first day of Isas has kicked off to a slow start because providers have not provided IFAs with the necessary information.

Chelsea Financial Services managing director Janice Thompson says: &#34We have had thousands of enquiries, but we have nothing to send to our clients. Providers have been so focused on milking Peps, their eyes have been looking backwards and not to the horizon.&#34

Thompson says she has received full Isa details from only one top provider Jupiter.

She does have Gartmore and Perpetual literature, which both offer joint Pep and Isa proposals, but suggests that these look too dated to send out.

Fidelity Investments, one of the targets of Thompson&#39s criticism, says it was faced with a dilemma of whether to send out Isa material early or wait until Isa were actually launched.

Broker marketing director Stuart Holah says: &#34It is difficult to know what to do. Do IFAs want the literature early or when it is launched? Some say you must be joking, get real we don&#39t want it early, while half say lets have it before launch.&#34


Inland Revenue&#39s ISA campaign jumps the gun

Consultants Grant Thornton believe the Inland Revenue has jumped the gun with its press campaign promoting Isas.It suggests the Inland Revenue is overly keen to embark on a marketing campaign based on a concept the financial services industry has not wholly signed up for.Grant Thornton tax partner Jonathan Riley says: &#34Money spent on the campaign […]

Henderson Investors offers discount on Ethical trust

Henderson Investors is offering a 1 per cent discount on the initial charge on its ethical unit trust.The discount is available for investments inside and outside of an Isa and is valid up to the end of June 1999.


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