ISAs - Where to get an ISA

Actually, it would be simpler to list where you can’t get an ISA these days. It need be no more difficult than popping down to the High Street – and the growth of the internet has made the job even easier.

ISAs are available from banks, building societies, fund management companies, insurance groups, fund super- markets, National Savings & Investments, friendly societies, financial advisers, stockbrokers and wealth

Not every ISA manager will offer both types of ISA, though, so it could pay to look around before you commit yourself. Some may offer both Cash ISAs and Stocks and Shares ISAs, while others will provide only one of these types.


ISA managers will give you full details of the types of account they offer, from Cash ISAs and simple fund ISAs offering a limited investment range through to full-blown self-select products. They may offer a choice of their own and other companies’ products, or just in-house funds.

Some providers will provide advice about which ISA would be right for you, but always be aware that the most suitable product might not be found in their available line-up. Treat marketing claims with a healthy scepticism while you make up your own mind.

Internet-savvy savers will find a wealth of online help. It’s easy to inspect the products on websites as most providers give full details of their range and how to apply online. Comparative websites are also helpful when making a choice, though more so for Cash ISAs than Stocks and Shares ISAs.

You can explore the range of execution-only offerings from online brokers and check out the bells and whistles many of them offer in the way of stockmarket research resources. Alternatively, you can go to an independent financial adviser or traditional broker for help in choosing the best option.

A word about life insurance policies: these can normally be held in an ISA as part of a Stocks and Shares ISA but some policies can only be held in a Cash ISA. Life insurance has not proved particularly popular with ISA savers, but if you do want to include it you will need to find a manager who can offer the right product for the appropriate type of ISA. Insurance companies should be able to give advice on this.

 

This ‘How to’ guide is produced by Shares Magazine and is only for general information and use, and is not intended to address particular requirements.

The value of investments and the income derived from them can go down as well as up. Past performance is not necessarily a guide to future performance.