The scope for mis-buying or mis-selling the Lifetime ISA (LISA) is 'significant', Dunstan Thomas has claimed following research by the retirement services provider into the so-called millennial generation.
The study of 1,000 people aged between 23 and 36 found more than a quarter (27%) of those canvassed believe the LISA is a more tax-efficient retirement savings vehicle than an auto-enrolled workplace pension, while almost two-fifths (38%) were unsure which product was more tax-efficient. The research also highlighted the potential for a jump in the demand for financial advice. A quarter (25%) of those surveyed indicated they might take out a LISA as a retirement savings product and a third (32%) anticipated taking one out as soon as they become available this April. Despite its appare...
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