An increasing number of people are turning away from high street banks when investing in an Isa, figures show.
Research from Interactive Investor reveals that the number of investors buying an Isa online increased by 37 per cent last year to account for 51 per cent of investors overall.
Meanwhile, the number buying an Isa from a bank fell from four in ten (42 per cent) to just three in ten (31 per cent) in 2010.
Rebecca O'Keeffe, head of investment at Interactive Investor, said the figures reflected a general trend among consumers towards shopping online.
"The shift towards online Isas mimics the online shopping trend and confirms that investors are increasingly confident about investing and trading online," she said.
"Investors are also more aware of the fees they have to pay on their investments and are looking for lower cost options."
Those looking to invest in an Isa have until April 6th to make full use of this year's tax free allowance.
Investors shunning banks when taking out an Isa
Investors shunning banks when taking out an Isa
Tue, 22 Mar 2011
Recommended links
Online shares and investmentsIsa guide
Isa types
Compare Isas
Unit trusts
Investment trusts
Preference shares
Savings accounts comparison
Investors divided on interest rates
Inflation biggest threat to wealth, say investors
Standard Life Investments makes new appointment
Investors told to consider Greggs
CBI revises down growth forecast
| Stocks & Shares news |
|---|
| Investors happy to make own decisions but lack SIPP knowledge, survey finds - Tue, 05 Apr 2011 |
| Investors put off switching Isas by low rates and fear of mistakes - Thu, 31 Mar 2011 |
| Investors shunning banks when taking out an Isa - Tue, 22 Mar 2011 |
| More News |
