The first day of Isas has kicked off to a slow start because providers have not provided IFAs with the necessary information.
Chelsea Financial Services managing director Janice Thompson says: "We have had thousands of enquiries, but we have nothing to send to our clients. Providers have been so focused on milking Peps, their eyes have been looking backwards and not to the horizon."
Thompson says she has received full Isa details from only one top provider Jupiter.
She does have Gartmore and Perpetual literature, which both offer joint Pep and Isa proposals, but suggests that these look too dated to send out.
Fidelity Investments, one of the targets of Thompson's criticism, says it was faced with a dilemma of whether to send out Isa material early or wait until Isa were actually launched.
Broker marketing director Stuart Holah says: "It is difficult to know what to do. Do IFAs want the literature early or when it is launched? Some say you must be joking, get real we don't want it early, while half say lets have it before launch."