Mutual society Shepherds Friendly has expanded its ISA range to include a new unit-linked Stocks and Shares ISA.
The unit-linked ISA has give levels of risk available and was developed in partnership with fintech Financial Risk Solutions. The fintech’s Investpro technology will facilitate all trades for the new ISA.
As with its existing investment ISA, the new ISA will be actively managed by Royal London Assets Management, which has a flat annual management charge of 0.75%.
Shepherds Friendly has offered its investment ISA since 2008, and chose to expand its range following feedback from members and market research.
Max Jarrold, chief growth officer at Shepherds Friendly, said: “The Stocks and Shares ISA expands our product offering to ensure we’re meeting the needs of a wider range of investors.
“We believe stocks and shares ISAs represent a significant growth opportunity given the popularity of ISAs among consumers. With better financial education and changes to ISA legislation, we expect higher adoption of stocks and shares ISAs in future.”
Shepherds Friendly is a Greater Manchester-based mutual society founded in 1826. It offers ISAs, investments, life insurance and income protection.
In her latest Budget, Chancellor Rachel Reeves announced the reduction of the tax-free allowance for Cash ISAs to £12,000 for those under the age of 65 from 6 April 2027, in a move to push more investors towards Stocks and Shares ISAs.
The change forms part of the Government’s plans to encourage people to invest more of their money so that they can benefit from higher returns and long-term financial resilience.
The Government will also consult this year on a new simple ISA product aimed at first time buyers, which it hopes will eventually replace Lifetime ISAs.