IFA firm Chartwell says it has taken more than £3m in new money into its Protected Income Plan since the last base rate change as UK investors seek to protect their lifestyle from inflation.
The firm says with the Consumer Price Index up from 2.1% in December 2007 to 2.2% in January 2008, UK families face rising costs of petrol, food and energy bills. It says this has led UK consumers to seek new ways to protect what they have and make their investments work harder. “According to YouGov, 35% of the UK population have a savings account delivering less than 4.00%,” says James Davies, head of investment research at Chartwell. “This, combined with the rising costs of fuel, food and other aspects of daily life have led UK consumers to find ways to make their money work harder. “...
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