Cash ISA slump

In February 14, 2018
On ISA
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Historically cash ISAs have been the “go to” account for savers but, they are just not producing the returns savers need.

Since the Bank of England cut interest rates to 0.5% in March 2009 cash ISA rates, and savings rates generally, have dwindled. They experienced their worst year on record in 2017, with average returns much lower than stocks and shares invested ISAs which on average will return between 5 and 8%.

Unless there is a massive shake up with increased competition between banks and building societies, little will change with cash ISAs. So, if you are after potential returns, the only way to go with ISAs at the moment is stocks and shares.

If you don’t have a stocks and shares ISA but do have a cash ISA that is seeing little or no growth, speak to us about how to get your money working for you.

If you are an existing client, already invested on the True Potential Wealth Platform, you could utilise the unique ImpulseSave function to top up your ISA or set up a new ISA at a lower initial cost! You only have a few months to benefit from the annual ISA allowance (currently £20,000). It is use it or lose it, so make sure you use it!

If you already hold an ISA with ourselves and are unsure if you have any allowance remaining, again please contact the office and one of the team will be able to confirm this for you.

Disclaimer

Your capital is at risk. Investments can fluctuate in value and investors may not get the amount back they invest. Past performance is not a guide to future performance. Tax rules can change at any time.

Please remember your home or property may be repossessed if you do not keep up repayments on your mortgage.  We give clients the option to pay for mortgage advice by fee rather than commission. Equity Release refers to lifetime mortgages. To understand the features and risks, ask for a personalised illustration.

The Financial Conduct Authority do not regulate, Will Writing, Buy to Let Mortgages, Auto Enrolment, Tax Advice and Estate Planning.

The opinions contained within this blog, do not constitute financial advice and no action should be taken based on this content alone.

Jasmine has been a qualified Financial Planner since 2008. She has also been a member of the Society of Will Writers since 2012. She is passionate about helping Clients build their wealth and achieve the financial lifestyle they desire. Her areas of expertise are that of Savings, Investments, Pensions and Retirement Planning.

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Redwood Financial Family Wealth & Estate Planners Ltd is Directly Authorised and regulated by the Financial Conduct Authority. FRN number 774469.

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Disclaimers

The Financial Conduct Authority do not regulate, Will Writing, Buy to Let Mortgages, Auto-Enrolment, Tax Advice and Estate Planning. Your capital is at risk. Investments can fluctuate in value and investors may not get the amount back they invest. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. https://register.fca.org.uk/

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Email: info@redwoodfinancial.co.uk

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Redwood Financial Family Wealth and Estate Planners Ltd Company Number: 08926661
Registered Office Address: Wellesley House, 204 London Road, Waterlooville, Hampshire,