People looking to invest in an individual savings account (Isa) should check the amount of commission they will be charge, one expert has said.
Adrian Lowcock, senior investment adviser at Bestinvest, explained that Isa advisors can take up to five per cent in commission, sometimes more, meaning that people should take in to account how much they were going to be charged when setting up a fund .
He said: "You want to find an advisor who discounts that [commission] and that's one way to get good value."
Mr Lowcock added that after someone had obtained a discount on the initial commission they should then use a research facility when choosing an Isa.
Figures released by HM Revenue and Customs in November 2007 found that the amount of money saved in Isas totalled £208 billion.
According to the BBC, the amount was a seven-fold increase on the total in 2000.
Check Isa commission, consumers told
Check Isa commission, consumers told
Tue, 19 Feb 2008
Recommended links
UK savings information portalSavings providers of the day
Savings enquiry form
Savings accounts - an introduction
Isa guide
Types of Isas
Isas are "popular savings vehicle"
Accessibility is the key to Isas
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