Family Investments has teamed up with Post Office Ltd to provide its customers with both cash and stocks-and-shares ISAs.

The family savings specialist is better known for its Child Trust Fund (CTF) offering, having set up a similar deal with Post Office for this product in 2005. This latest partnership will expand Family Investments’ existing ISA offering.

According to research from Family Investments, almost a third of UK adults are unaware of the tax-efficient status of ISAs, and 40 per cent believe that CTFs are also taxed.

John Reeve, chief executive of Family Investments, says, ‘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.’