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Millions of investors and savers across the UK, resort to adding their hard-earned cash to ISAs.

The main attractions for investing in an ISA (Individual Savings Account) is to benefit from potential growth on your money (interest), to receive tax-efficiencies on the investment and with a Cash ISA, flexibility to withdraw your money when you need it. However, saving and investing in ISAs and making sure the ISA is the best for you, is not as easy as it may sound.

There are several difficulties you can encounter. Nevertheless, expert ISA advice from a professional adviser can help you avoid many of these pitfalls and potentially improve your investment’s performance.

There are three major ways that expert ISA advice can help.

  1. Choosing the right type of ISA
    As you may know, there are five types of ISAs. Cash ISAs, Help to Buy ISAs, Innovative Finance ISAs, Lifetime ISAs and Stocks & shares ISAs.

    As well as five types, there are numerous ISA providers you will need to consider to get the best deal for you. It can be a minefield to analyse all the types of ISA and providers to make sure your investment is being maximised. This is where you need expert ISA advice from a qualified professional adviser.

    With in-depth knowledge about investments and ISAs, a financial advisor can help you make an informed decision when it comes to choosing the right ISA for yourself. As a general rule, a Cash ISA is more secure but delivers little return. In contrast, a Stocks and Shares ISA could deliver higher growth but is usually riskier and will be affected by economic and market changes.

  2. Investing at the right time
    The financial year for ISA’s start on 5th April. This is where the new personal ISA allowances kick-in, so maximising your tax-free investment each year is critical.

    Currently, you are only allowed to invest £20,000 per year (this is called your personal ISA allowance), so if you have more than £20,000 to invest, you may need to look for alternative investment for the rest of your capital or delay till the next year. An expert financial adviser can help you to invest in your ISA, plus offer advice on where to invest the rest of your money if you have more than the £20,000 allowance.

    If you’re investing in Stocks and Shares ISA, these types of ISA are subject to changes in financial markets. A financial adviser could help with the timing of when to invest in specific funds, turn your investment into cash or advise on the best actively managed fund for you.

    An actively managed Stocks and Shares ISA could be a good option for people as it could protect your investment when markets are down and potentially enjoy higher returns when the markets are buoyant.

  3. Avoiding risks and mistakes
    With every investment, there is a potential risk element that an inexperienced investor may not see.

    By carrying out a full attitude to financial risk assessment, your adviser will be able to check what level of risk you are comfortable. Your adviser can then recommend ISA products that fit with your attitude.

    By aligning the ISA product to you, you will only take the amount of risk you are comfortable and potentially not lose as much money as a much riskier fund. Alternatively, being too conservative could mean missing out on valuable growth and extra money for your savings.

    Everyone loves tax-free investments. Saving into an ISA (Individual Savings Account) is probably the most accessible savings account option. However, it is always recommended to have professional advice when it comes to choosing your ISA.

Speak with Hilltop Finance
To get the most out of your investment and ISA savings, speak with our investment specialists today.

We offer a free, no-obligation consultation

and will carry out a full financial risk assessment to help you find the best ISA product for your needs. Our service is telephone-based for your safety and security.

Call Hilltop Finance on 0161 413 7051 or click here to request a callback.

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