ISAs & PEPs news

Savings pots 'come in lots of shapes and sizes'

13 August, 2007

Helen Howcroft, speaking on behalf of the independent financial adviser, said there are "loads of different ways to save", adding these include tax efficient savings options such as individual savings accounts (Isas) and pensions, as well as maximum investment savings plans.

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Nevertheless, the spokesperson stated that choosing the correct product depends on the individual's tax situation.

People on lower incomes could take advantage of an Isa, according to Howcroft, but she added that there "are lots of new bank accounts out now where you can't touch the money for 12 months or 24 months but they offer really good rates of interest".

She also suggested that consumers can receive generic savings advice if they visit a bank, but that by getting information from "various sources", consumers can get tailored advice which is suited to their own financial situation.

Equanimity states that it offers "holistic financial planning" designed to maximise people's wealth.

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