More than one-third of investors are still confused about Isas almost two years after their introduc...
More than one-third of investors are still confused about Isas almost two years after their introduction by the Government, according to a survey for Scottish Friendly.
The survey, which was carried out by George Street Research and covered 409 investors, found that 38% of the sample did not find Isas easy to understand.
Among those who held Isas, only 8% said they were confused by the rules, with 19% responding that they fully understood the Isa regulations relating to maxi- and mini-Isas and the components within the product.
About 38% of Isa holders said they understood the rules reasonably well, while 33% said they had a vague understanding.
Scottish Friendly offers an insurance Isa and the survey found that 42% of those holding the product invest in a stocks and shares Isa as well. Roughly 78% of these customers also invest in a mini-cash Isa.
Calum Bennie, direct marketing manager at Scottish Friendly, said: "We are aware that those investing in an insurance Isa are doing so because of the security and growth potential it offers. Those investing in stocks and shares Isas would be likely to have a higher risk profile as well as looking for greater growth potential."
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