Why we’re bucking the trend on ISAs

Thanks to loyal clients and a combination of good value and excellent service, the number of people buying ISAs through Hargreaves Lansdown continues to rise.

This is in stark contrast to figures just released by the Investment Management Association (IMA) showing that net UK sales of ISAs between March 2007 and April 2008 virtually halved from £2.5 billion to £1.3 billion.

Here at HL we recorded a 2% increase in new ISA contributions through our Vantage Service during the same period with new business totalling £430 million.

Our investment and pensions helpdesks answered more than 60,000 calls in March during the run-up to the traditionally busy end of the financial year on April 5. Notably, 40% of new clients invested through HL after receiving a personal recommendation from a friend or colleague.

Head of Vantage development Ben Lundie said: “I want to extend a big thank you to our clients not only for choosing to invest with us but also recommending HL to their friends.”

He added: “Choice is key – our clients can choose to invest by telephone, post or online. During the first quarter of 2008, 10,000 new investors became clients of the Vantage Service, our fund supermarket, although in March 85% of our business came from existing clients.”