Sep 5 2008
Child Trust Fund (CTF) provider Family Investments is set to expand its existing Individual Savings Account (Isa) offerings, it has been revealed.
The organisation is partnering with the Post Office in a bid to become a leading provider of tax-free savings for the family.
According to Family Investments, as CTFs can now be converted into Isas once a child reaches 18, the provision of such savings accounts is a "core part" of the financial service provider's offering.
"We were delighted to be selected by the Post Office to provide its Isa and going forward we will be seeking similar deals with other financial organisations who appreciate the quality service we deliver," stated John Reeve, chief executive of Family Investments.
In other industry news, research published last month by Abbey Savings revealed that £6 billion has been taken out of Isas in the past year, with 31 per cent of savers stating they withdrew the money to cover everyday costs.
