31 August 2017

Liz Alley, Head of Financial Planning Operations at Brewin Dolphin, said: 'ISAs have always been a good choice for those wanting to save in a tax-efficient way with our research showing that three quarters of people feel comfortable putting their money into ISAs. It's encouraging to see a slight increase in the number of people saving through Stocks and Shares ISAs. However, for people wanting to make their money work harder a Stocks and Shares ISA could help people reach their savings goal quicker.

'Our calculations show that it could take someone a little over 8 years to turn £7,500 into £10,000 if they were to invest in Stocks and Shares ISA. They may need to wait 20 years if they used a cash ISA. In fact, if someone is in the position to be able to take advantage of the full £20,000 ISA allowance and invest in a Stocks and Shares ISA each tax year, then they could be an ISA millionaire by 2046.'

Cash vs Stocks and Shares ISAs across the UK
Analysis of the latest HMRC ISA data by Brewin Dolphin reveals people in the South East are more open to taking a calculated risk with their money (when compared to saving in a Cash ISA) as they're the most likely to have a Stocks and Shares ISA. People in Northern Ireland and the North East are the least likely to put their money in a Stocks and Shares ISA.

Region and Country

No. of individuals subscribing to Stocks and Shares ISA

No. of individuals subscribing to cash ISA

South East

355

1,410

London

246

1,041

South West

212

906

East of England

204

968

North West and Merseyside

178

1,081

Scotland

159

722

West Midlands

153

780

Yorkshire and the Humber

143

843

Wales

73

459

North East

55

402

Northern Ireland

36

166

Numbers: thousands

The value of investments and any income from them can fall and you may get back less than you invested.
Any tax advantages mentioned are based on current legislation and personal circumstances which are subject to change.
Past performance is not a guide to future performance. The figures quoted above are based on reasonable assumptions supported by objective data and are not a reliable indicator of future performance. The deduction of fees will reduce the returns shown above.
The above information is for illustrative purposes only and is not intended as investment advice.
The information contained in this document is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness.

The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd.

END

Notes to Editors
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/640743/Full_Statistics_Release_August_2017.pdf
YouGov surveyed 10,951 UK adults online between 10th and 16th August 2016.
8 years and 2 months via a Stocks & Shares ISA, compared to 20 years via a Cash ISA. Assumed average return of 3.60% based on the average return of the Brewin Dolphin 'Very Low Risk' investment profile, after charges.
Calculations based on the assumption that annual ISA allowance remains at £20,000. Assumed average return of 3.60% based on the average return of the Brewin Dolphin 'Very Low Risk' investment profile, after charges.

Brewin Dolphin Holdings plc published this content on 31 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 August 2017 14:37:05 UTC.

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