Product category:
Savings and investment
News Release from: Barclays Wealth Management | Subject: ISA
Edited by the Insidemoneytalk Editorial
Team on 24 March 2008
Barclays Wealth to discontinue FTSE
Account following Isa changes
Barclays Wealth is urging advisers to take advantage of its tax-free Guaranteed FTSE Account before the product is discontinued on 4 April due to the changes in Isa rules.
Barclays Wealth says the six-year product, which offers a 20 per cent minimum return if it is held to maturity plus the potential to receive a stepped bonus of up to 22.5 per cent*, will become unsuitable under new rules allowing investors to migrate from a Cash ISA to a Stocks and Shares ISA The provider believes the 100 per cent capital protected account, which effectively mirrors Barclays Wealth's Minimum Return Plan - which will remain a core element of its range - is ideal for advisers seeking to retain Cash Isa flexibility as it remains a Cash Isa throughout its lifespan
Lisa Chaudhuri, manager, Barclays Wealth says: "The Guaranteed FTSE Account will no longer be an appropriate product following recent tax changes so this really is a buy-now-while-stocks-last opportunity for advisers and their clients." *Depending on the performance of the FTSE 100.
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