Lifetime ISA

Ros Altmann
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Ros Altmann: Without advice Lifetime Isa savers face clear risks

Since it was first proposed, it has been clear to many that the Lifetime Isa is unsafe to sell without advice. Significant dangers arise from the product’s complex design, absence of clear risk warnings, lack of suitability checks and asymmetry of information between customers and providers. The first evidence of such problems is appearing. Lisas […]

Lisa Webster: The verdict on Isa innovations

New features and products have been making their presence felt in the Isa market, but advisers need to make sure they are understood by clients In recent years, we have seen a number of new features and products in the Isa market. From April 2015 additional permitted subscriptions became available, April 2016 saw the start […]

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Govt faces calls to allow Lifetime Isa contributions from birth

A thinktank has proposed three ways to overhaul the Lifetime Isa including changing the age restrictions associated with the product. Through the research paper, liberal conservative thinktank Bright Blue, is calling on the Treasury, which is currently reviewing the Lifetime Isa, to change and make the product more simple. The Lifetime Isa hit the market […]

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Numbers of Isa savers at 20-year low

The number of people saving into an Isa fell to its lowest level in nearly 20 years, according to annual HM Revenue & Customs figures published today. This comes after a similar drop the previous year, with an almost 13 per cent fall in the number of Isas opened. However the update also shows the […]

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Moneybox mulls Sipp launch

Mobile savings app Moneybox is eyeing the launch of a Sipp, joining other digital wealth managers entering the retirement arena, Money Marketing understands. Moneybox allows customers to allocate small amounts of savings towards investment plans by rounding up card payments to the nearest pound. In April 2016, Moneybox was among the small number of direct-to-consumer […]

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Who topped Lifetime Isa sales in 2017?

More than 90,000 people have taken out a cash Lifetime Isa at Skipton Building Society since the product’s launch one year ago, making Skipton the most popular provider to offer the wrapper. The building society says the average amount invested in its Lifetime Isa in the first tax year since launch was £2,759, with 73 […]

Ros Altmann
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Ros Altmann: Can industry fix damaged Isa brand before it is too late?

It has never been more important to encourage saving. But advisers know only too well how challenging the complexities of the UK savings and pensions landscape make it for people. Any trends towards simplification would be welcome, but unfortunately recent developments have moved in the opposite direction. Take Isas, for example. Their simplicity has always […]