Apr 17 2008
Anyone uncertain about how best to make use of their individual savings account (Isa) allocations should seek professional advice, one expert has asserted.
There are certain risks associated with investing in Isas linked to stock performances and Roy Beale, from the Nationwide Building Society, has suggested that people should be clear about these issues before switching their assets.
"There is the possibility of greater returns on stocks and shares compared to cash," said Mr Beale.
"However, this is not guaranteed and once funds are transferred from a cash Isa to a stocks and shares Isa they cannot be transferred back."
Thousands of parents in the UK use their Isa as a way of saving for children and Mr Beale is convinced that the recent changes to the Isa rules have given greater encouragement to many savers.
According to figures from HM Revenues & Customs, there is now more than £200 billion invested in Isas across the country.
