Improve My ISA Risk Warning
Improve my ISA are plugging their products heavily at the moment, probably with the tax year ending soon. As with LCF the adverts for Improve my ISA are incredibly misleading with no mention of the risks and that the product is not FSCS protected.
The Improve My ISA website is similarly misleading and only has very tiny writing at the end of a page mentioning any risks but plenty of other information about how great it is.
The ad and website also claim "Security Trustee and ISA manager are authorised and regulated by the Financial Conduct Authority " however they fail to say that this has no relevance to an investor in the bond who could still end up losing all their money.
The company behind Improve My ISA is shown as Global Property Marketing Ltd. Their most recent accounts show they have the grand sum of £1 in assets. Yes, that is one single UK pound. Not one million, just one. This may have changed but the accounts are correct at June 2018 so only 9 months ago.
Would you trust your ISA to a company that has assets of £1 and a bond that could lose all your money where that risk isn't made clear?
https://beta.companieshouse.gov.uk/company/10838013/filing-history
Their website claims "Investing doesn’t have to be complicated. The products are described in plain language so you can understand their risks and benefits. Contact us today for more information."
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| Improve My ISA Risk Warning |
The ad and website also claim "Security Trustee and ISA manager are authorised and regulated by the Financial Conduct Authority " however they fail to say that this has no relevance to an investor in the bond who could still end up losing all their money.
The company behind Improve My ISA is shown as Global Property Marketing Ltd. Their most recent accounts show they have the grand sum of £1 in assets. Yes, that is one single UK pound. Not one million, just one. This may have changed but the accounts are correct at June 2018 so only 9 months ago.
Would you trust your ISA to a company that has assets of £1 and a bond that could lose all your money where that risk isn't made clear?
https://beta.companieshouse.gov.uk/company/10838013/filing-history
Their website claims "Investing doesn’t have to be complicated. The products are described in plain language so you can understand their risks and benefits. Contact us today for more information."
Nothing could be further from the truth. Their website does not use plain language to explain the risks and seriously misleads investors.
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