ISA Review
Do you know how your ISA is performing?
Over the years many investors have accumulated a number of ISAs, with different ISA providers, based upon a special offer or the investment return on a particular providers’ funds at that time.
It is important to review the investments held within your various ISAs every year in order to check past performance, the fees being charged and that the asset allocation continues to meet your needs.
Killik & Co provide a free ISA review service. With your consent, we gather information on the past performance of your existing ISA plans and then make recommendations (in line with your risk profile and investment goals) in order to help you decide whether to remain with the status quo, change the investments you hold or consolidate your ISA plans. Most importantly, this service is made without any charge or obligation. If the decision is made to transfer your current plans to Killik & Co, then we will pay all and any exit charges.
Invest for the long term
The real benefit of an ISA comes from regular savings over a period of many years – this smoothes out both the highs and lows of market volatility. The benefit of compound interest means that relatively small regular payments can, over a period of years, grow into a very considerable sum.
For example, if a married couple invested their joint ISA allowance of £14,400 per year (£7,200 each) for the next 25 years, this could grow to £720,000 in a tax advantaged wrapper (assuming a real rate of growth of 5% p.a.). This will rise to £20,400 per couple (£10,200 each) from 6 April 2010, meaning a potential total of over £1,000,000.
ISAs can be partly or fully encashed whenever you need them. Or you can take income from them without paying any income tax.
