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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FCA urged to prioritise a 'common sense' approach

FCA urged to prioritise a 'common sense' approach

Last week’s PA Asks poll highlights industry’s thoughts on the FCA

Sahar Nazir
clock 25 March 2024 • 2 min read
Advisers overlooking younger clients over asset value bias

Advisers overlooking younger clients over asset value bias

'Young people need to have access to trusted advice'

Sahar Nazir
clock 22 March 2024 • 1 min read
Financial advice crucial as near-term challenges remain

Financial advice crucial as near-term challenges remain

'A good IFA has rarely been more valuable'

Ahmed Bawa
clock 22 March 2024 • 4 min read