News
IF ISAs on the rise, but Cash ISAs still dominate
According to HMRC, IF ISAs (Innovative Finance ISAs) have received a marked boost in subscriptions since their introduction in 2016. The statistics for 2017/18 show that almost £300m (805% growth from 16/17) was subscribed to IF ISAs by approximately 31,000 investors (620% growth from 16/17). However, subscriptions to Cash ISAs were still pushing the £4trn mark in 2017/18. An astonishing amount considering the low interest rate environment. One encouraging statistic for the alternative finance market was that the average subscription for IF ISA accounts was £9,355 — compared with £6,409 for all ISA accounts in 17/18. Advisers need to do… continue reading
September 6, 2018
