Editing Individual savings account (section)

== Fund supermarkets and self-select ISA providers ==
There is no legal distinction between a [[Fund platform|fund supermarket]] and a self-select ISA provider. These are merely marketing terms used by stocks and shares ISA providers to distinguish the type of business that they tend to seek. Firms favouring collective investment business will often call themselves fund supermarkets, while firms who focus on share dealing will often call themselves self-select ISA providers. A firm can freely offer all types of permitted investment, regardless of its name, and many do. Others choose to offer only collective investment funds. An individual may not be the provider for their own ISA.<ref name=HMRCGuidanceNotes />

Except for fund houses, it is usual for providers to offer the facility to hold funds managed by many different organisations.

Prior to the effect of the [[Retail Distribution Review]] it was normal for S&S providers to be paid by fund managers out of their usual charges, though some may have both explicit dealing charges and collect the commission while others may make charges and refund all commission. This is now prohibited for new customers who must be charged a fee instead. In the current transition period existing customers may be able to hold a mixture of commission paying investments and the "clean" versions that do not pay commission, perhaps paying a platform fee only for the clean portion. Some providers have chosen to be clean only. Some commission may be rebated to customers but this is not required.