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Advisers say Isa season will be a washout

Most IFAs believe this year&#39s Isa season will be a total washout, with more than two-thirds expecting the traditional pre-April sales surge to vanish over the coming years.

Sixty-five per cent of respondents in a survey of 800 users of The Exchange believe there will not be a “noticeable” Isa season this year, dashing fund managers&#39 hopes that sustained stockmarket rises will kickstart sales.

Even greater numbers believe this trend is set to continue, with 69 per cent predicting the Isa season will have no significance in the coming years.

As a result, an overwhelming majority of 96 per cent believe the industry should channel more energy towards encouraging people to invest all year round, not just when the tax deadline is looming.

But, even if this is achieved, they do not expect the same products to remain popular, with 63 per cent of IFAs saying they believe sales of corporate bond funds – a long-time bestseller despite fears of a bubble – will drop off.

Fifty-six per cent say the Government&#39s much criticised decision to scrap the tax credit on equity Isa dividends will result in dwindling sales of these products, particularly damaging with the savings gap growing ever wider.

PR manager Charlie Musson says: “IFAs have naturally felt that Isa sales should be spread throughout the year and the bear market seems to have shown that this is now likely to happen.”

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