8th January 2014
A bumper Isa season is being predicted by Stuart Welch, chief executive officer of TD Direct Investing on the back on low interest rates, improving investor confidence and changes in regulations.
The firm says that over the past three years the total number of new ISA accounts opened at TD in the midst of the ISA season (January-April each year) has seen a steady upward trend. There has been an average of 80% increase between January-April, in the three years 2011-2013, with a 93% increase over the same period last year.
Welch says: “We are already seeing signs that the economy is improving, with the FTSE ending the year at 6749, unemployment down and house prices increasing. The knock on effect of this is that people start to feel more confident about investing. With the FTSE growing by 14% over the course of 2013, investing in stocks and shares could be something consumers look to more in 2014.”
“The average value of ISA portfolios is also trending upwards, indicating that the ISA market is ripe for further growth in 2014. TD clients’ ISA portfolios have increased by an average of 14% between 2011 and 2013”.
Welch has also hailed the decision last year to make AIM shares eligible for inclusion in stocks and shares ISAs; and to make them free of stamp duty in 2014.
He said: “These changes have brought increased choice to investors, opening up new opportunities and ultimately increasing accessibility. Despite the economic environment, we have seen an increase in people investing in AIM stocks from their ISAs – showing that people are not scared to venture beyond the FTSE.”
He says a third (33%) of TD’s clients from 2012 and 2013 opened ISAs in January and February as opposed to March /April.
TD Direct Investing is giving away an IPAD mini every day from January 7th to February 6th with details here at http://www.tddirectinvesting.co.uk/choose-an-account/trading-isa/welcome/.