Quarter of ISA savers unaware how to source advice

ISAs more attractive after limit increase

Hannah Godfrey
clock • 1 min read

More than two fifths of regular ISA savers would increase their investments if they knew how to source financial advice - which almost a quarter (23%) admitted they didn't, according to MetLife.

The provider's nationwide study found almost half (45%) of ISA savers thought the current rules and options for stocks and shares ISAs were too complex for them to understand, highlighting the need for independent advice. A mere fifth of those questioned held equity ISAs and more than a third said they would not invest in them because of fears about volatility. MetLife questioned 1,071 employed adults aged 18 and above during January and February 2017, ahead of the increase of the tax-free ISA contribution limit to £20,000 from £15,240. It found about one in five (18%) had sought a...

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