Investors are increasingly switching from cash ISAs to stocks and shares ISAs in order to achieve a higher return.
It found clients are transferring mainly to corporate bond funds as yields in excess of 6% appear increasingly attractive.
Ben Lundie, head of Vantage development at Hargreaves Lansdown, says: "With interest rates falling to historic lows, investors are seeking income elsewhere. We can see this trend continuing for some time as we head towards 0% interest rates in the UK."
However, Lundie adds investors need to be aware capital is not guaranteed in a stocks and shares ISA therefore not making it suitable for everyone.
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