More savings customers may consider switching from a cash-based individual savings account to an investments-based option in 2007, according to a new study.
A new survey from investments specialists F&C Investments has investigated the future plans of people that currently have a cash individual savings account.
And 5.6 per cent of respondents revealed that they would "definitely consider" moving the savings into a share-based option.
Meanwhile, 42.3 per cent admitted that they "may consider" changing account type and 52.1 per cent said that they would "never" move towards a savings account dependent upon investments.
Jason Hollands, director of F&C Investments, welcomed the findings but urged parents to get banking advice before making any radical savings changes.
"It definitely makes sense to get some good independent advice before switching an Isa [individual savings account], particularly if you are contemplating a shift from a very low-risk asset class such as cash to a much more volatile investment," he explained.
An individual savings account is a form of tax free savings account that was first launched by chancellor Gordon Brown in 1999.
Savers planning to switch individual savings accounts, report suggests
Savers planning to switch individual savings accounts, report suggests
Fri, 19 Jan 2007
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