Lack of understanding when it comes to looking at the options available can mean that one if four adults could be missing out on thousands of pounds in interest, research carried out by Oaksmore ISA has found. They advised that these individuals are reluctant to invest their personal savings and instead prefer to leave them in ordinary savings accounts with little or no interest.
This Is despite 61% of those questioned admitting to having savings of more than £1,000.
Oakmore have advised that there seems to be a lack of understanding and awareness of the options available, 16% of people questioned were not aware of any type of ISA. While 75% of people asked were aware of a traditional ISA, fewer had any knowledge of investment schemes such as Stocks and shares and lifetime ISA’s.
If you would like to have a discussion around what other options are available for you, please call us on 01202 676983 and we will book you in with one of our expert advisers.