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Survey says most Isa investors want long-term growth

Isa investors are looking for long-term growth rather than short-term

gains, according to a survey by IFA Network.

Almost one in four people said they held an Isa to build up capital while

the second most popular use was to help with retirement planning.

The survey also dispels the myth that most people are still confused by

Isas. More than 70 per cent of people said they understood the product.

The survey polled more than 1,000 people across the UK and also asked

about investors&#39 new tax year resolutions.

Almost one in three said they wanted to save more money this year, with

more than half of the 16-24-year-old age range saying that this was their

main resolution.

IFA Network believes that investors are taking more of a long-term

approach to saving as a result of the technology stock crash.

It says market volatility has also highlighted the importance of seeking

independent financial advice.

IFA Network sales and marketing director Nick Kelly said: “The news is

encouraging for IFAs aspeople need advice about which investment products

are right for them for whatever reason they chose to make the investment.

“There are gains to be made in the short term but, to reduce risk and for

greater capital growth, we advise customers to leave their investment in

place for at least five years.”

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