Isas (Individual Savings Account) Uk 2014 - Worldwide Industry Size, Share, Trend, Growth and Analysis

ISA providers should embrace the new ISA reforms and ensure that they can offer consumers the maximum amount of flexibility that the new ISA rules can afford. The traditional line between cash and stocks and shares ISA providers is now blurred. Cash ISAs should begin looking at offering consumers a simple range of investment options, and stocks and shares providers need to consider the rates of interest that they pay on cash.

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Table of Content

Introduction

Product definitions

Abbreviations

Executive Summary

The market

The ISA market is expected to grow over the next five years, aided by the 2014 Budget changes

Figure 1: Forecast of total adult ISA subscriptions, at current prices – fan chart, 2008/09-2018/19

OEICs and Unit Trusts grow in popularity

Market factors

The 2014 Budget will shake up the savings, investments and pensions industry

Falling savings ratio has hit cash savings

The FLS and BoE base rate continue to keep ISA interest rates at rock bottom

Increasing numbers of ISAs are sold directly online

Other recent market developments

Companies, brands and innovation

The largest banks dominate the cash ISA market

Figure 2: Providers’ market share based on total retail savings balances, shown on a group basis, UK, 2013

St.James’s Place becomes the largest unit trust/OEIC ISA provider

Figure 3: Top ten unit trust/OEIC ISA providers, by value of funds under management, May 2014

Adspend for cash ISAs continues to decrease as adspend on stocks and shares ISAs increases

The consumer

A quarter of adults have an instant access cash ISA

Figure 4: Ownership of savings and investment products, June 2014

31% simply opted for the ISA that their current account provider was offering

Figure 5: Reasons to choose an ISA Provider, June 2014

Around a quarter of consumers use their ISA for unexpected...