Consumer Warning On ISA GUIDES

Published / Last Updated on 06/02/2002

There are many so called 'unbiased' guides to ISAs and as we approach the time when many people are thinking about using their annual allowances more and more are appearing. 

An ISA is an Individual Savings Account.  Each year you have an annual allowance to save in one of these tax efficient savings plans.  To find about about ISAs click here

Our message is simple - BEWARE OF GUIDES!  Think about who has produced the guides?  Who has paid for them?  Who has an advertisement in them?  If there are adverts then you can guess who is paying.  Many carry application forms within them but many only have a few selected products.  There are over 4,000 ISAs available in the market.  We will leave you to draw your own conclusions on why this is.

Admittedly, does not yet have every product available on our sites.  This is because providers have not yet supplied the required electronic literature.  If they have been supplied, they are on the site.  Click here for our ISA search engine.  That does not limit you though for advice on a full range of ISAs, please contact us if you need help.

The industry regulator, The Financial Services Authority (FSA) concurr.  They have issued a warning to consumers to take ISA guides with "a pinch of salt".  Our own guide to ISA's will be published on this site in the next few weeks.  There will not be a mention of a single provider within it - just guidance on what to look for, how they work and where to get one.  To start your own investigation into tax efficient savings please visit Savings Adviser.com .

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