Friday 15th February 2008
Consumers have been given fresh warnings of the risks associated with taking out an investment product without being fully aware of the terms and conditions.
Independent financial adviser Bestinvest advises that Britons should "be a bit wary" of individual savings accounts (Isas) until they have checked the small print.
However, those who check that their prospective Isa is managed by a company with a good track record could find their savings fare well, according to senior investment adviser Adrian Lowcock.
"With Isas you get introductory offers when a product launches and the problem with new launches is that you might not know the actual track record of the fund manager," he observes.
"You have to be a bit wary of them and know what you are getting into," the spokesperson adds.
But by opting for a product which has been on the market for longer, he advises that it may be possible to gauge more accurately the performance of the investment vehicle in the long term.
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