The information provided in this article was accurate at the time of publishing and should be read in the context of the date it was published. Views in this article are those of the author alone and do not necessarily represent the view of Scottish Friendly.
There are many ISA providers in the marketplace today – but why choose Scottish Friendly? Take a look below at some reasons why you may want to consider Scottish Friendly as your ISA or Junior ISA provider.
1. We’re a mutual
Scottish Friendly are a mutual. What does this mean? It means we don’t have shareholders and all our profits are used to benefit our members.
2. Start investing from only £10 / month
At Scottish Friendly we believe that investing should be accessible to everyone, not just large investors. With our Junior ISA and Investment ISAs you can start investing from only £10 a month. So if you’re thinking of investing towards a dream family holiday or maybe just to put a little aside for a rainy day, you can start with as little as £10 a month.
3. Use the long term growth potential of the stock market
Scottish Friendly provide Investment ISAs – this means our ISAs invest in the stock market. This gives your money access to more than just cash which could offer greater growth potential. You should consider this a medium to long-term investment for a period of at least five years. But please remember that, stock market investments can go down as well as up and you could get back less than you have paid in. Tax treatment depends on individual circumstances which could change in the future.
4. Our ISAs are flexible
With Scottish Friendly ISAs and Junior ISAs, you can stop, re-start and change payment amounts any time you like. Although you must consider that by pausing payments you may be less likely to reach your saving and investment goals.
5. Increase your payments incrementally
You also have the option to increase your payments incrementally year on year (this is called escalation). When you take out a Scottish Friendly ISA or Junior ISA, you can select the escalation rate on the application form (0%, 2.5%, 5% or 10%) or do this at a later date.
6. Add another policy to your ISA or JISA
Do you have a number of different investment goals? With a Scottish Friendly ISA you could create another ‘pot’ within your ISA to manage your money more effectively. You can name this pot for your goal, for example ‘Wedding fund’, ‘Kid’s money’ or ‘Special holiday fund’. With our Junior ISA once set up, family members can add their own pots to make contributions for your child. They can name this, too for example, ‘From Gran and Grampa’.
7. Manage your investments online
With Scottish Friendly My Plans, our customers can manage their ISAs or Junior ISAs online. So whether it’s to change your payment amount, add the escalation option to your payments or simply log on to view your plans this can all be done online and at any time.
8. Enjoy a £25 welcome gift
Take out a My Choice (ISA) or a My Choice (Junior ISA) and we’ll say thanks with a £25 gift card when you start investing. A My Rewards card to be precise, which you can spend on Amazon, John Lewis and many more outlets throughout the UK.
9. We’re long established
We have been going since 1862 and we like to think that this longevity counts for something although past performance is no guide to future performance.
10. Don’t just take our word for it.
We’ve been in the news quite a bit recently – why not read more about Scottish Friendly at the links below.
- Scottish Friendly reaches funds milestone of £1bn
- Scottish Friendly reports strong growth
- Scottish Friendly reports record sales
No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a savings or investment plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.