ISA's Page Three

I've heard about Government approved ISAs - what are they?

ISAs are not actually approved by the Government but there are benchmarks set by the Government to provide assistance to investors when choosing an ISA. They cover Cost, Access and Terms. There are three sets of 'CAT' standards, one for each element of the ISA.
Common themes for CAT marked ISAs:

Clear straightforward treatment of investors and advertising in plain English
No requirement to buy another product
An undertaking that the provider keeps to the CAT standards after the ISA is set up

Will a CAT standard ISA always be the best for me?

No, CAT marking is just a template for a certain type of ISA. It does not necessarily mean that a CAT marked ISA will be the best performing or the most suitable product for you. In reality ISAs offer a broad range of benefits and so the most suitable product for you depends upon your needs and circumstances. This is where the advice of an Independent Financial Adviser (IFA) will prove invaluable.

Who will provide my ISA?

There is a choice between many individual ISA managers. Some managers only offer Cash ISAs or Life Assurance ISAs. Others offer all the elements.
Different providers inevitably offer different rates of return, different charges and different levels of service. It is likely that there will be marketing incentives such as bonus points or other loyalty prizes offered by some providers.
Because of the large number of ISA providers and the different types - from investment houses to supermarkets, it may be in your best interest to invest with three separate ISA managers each tax year who specialise in that particular area e.g. life assurance, cash management and investment. This is the area where an IFA can advise you and help you make the right choice.

Some of the products and services offered by IFAs may not be regulated by the FSA. The value of investments can go down as well as up. Past performance is no guarantee of future performance.

'authorised and regulated by the Financial Services Act’ '189117'