Concern over investors in Isas forfeiting maximum allowance

Confusion on Isas makes it likely that IFA clients could unwittingly reduce their equity allowance b...

Confusion on Isas makes it likely that IFA clients could unwittingly reduce their equity allowance by taking out a bank's mini cash Isa, writes Kira Nickerson. In the past Tessa savers and Pep investors have been separate but under Isas banks and fund management groups are competing for the same tax-free allowance. This could put increasing pressure on fund management groups and intermediaries to market Isas at the start of the tax year rather than at the end, as with Peps. Stuart Holah, broker marketing director at Fidelity, said: "Typically, fund management groups and IFAs target in...