Family Investments partners with the Post Office to provide ISAs

Family Investments announced an exclusive partnership with Post Office Financial Services to provide its customers with both cash and stocks and shares ISAs which are now available via its 13,000 strong branch network and via the Post Office website.

As a family savings specialist, managing around £1.5 billion for over 900,000 people in the UK, Family Investments is well known as the leading provider of the Child Trust Fund (CTF). Family Investments is already the provider for the Post Office Child Trust Fund, which launched in 2005.

The partnership with Post Office Financial Services will expand Family Investments' existing ISA offering and helps meet the organisation's objective of becoming a leading provider of tax-free savings for the family. As CTF accounts can now be converted into ISAs once a child reaches 18, the provision of ISAs is a core part of the Family Investments offering.

Family Investments own research into tax efficient products has revealed that almost a third of UK adults are unaware of the tax-efficient status of ISAs and 40% believe that CTFs are also taxed. The provider has been at the forefront of a campaign to make the CTF scheme easier to understand for parents, while supporting Government initiatives to integrate the CTF into the school curriculum as a tool to teach children about saving.

John Reeve, Chief Executive of Family Investments, said: "This partnership with the Post Office is an important stage in the strategic development of Family Investments.

"Given that CTF accounts can now be converted into ISAs once a child reaches 18, those children with CTFs are the first generation of people in the UK that are able to save tax efficiently for life. As the UK's leading CTF provider, we are committed to expanding our offering to make life-long tax efficient saving easier for families and ISAs are an important component in this regard.

"We were delighted to be selected by the Post Office to provide its ISA and going forward we will be seeking similar deals with other financial organisations who appreciate the quality service we deliver. As such we have strengthened the senior team by appointing Miles Bingham to the Board of Family Investments as Business Development Director and promoting Kate Baker to the Head of Marketing."