IFAs would prefer fund management firms to market all year round rather during the traditional Isa season, according to research conducted by the Exchange.
A survey of 800 IFAs by the Exchangein January suggests seven out of 10 IFAs (69%) believe the Isa season will have little impact on sales this year – and is unlikely to be in the future - so 96% of intermediaries would prefer fund groups to promote their offerings all year round, instead of in weeks prior to the April 5th tax deadline.
Over half of those questioned say they expect Isa sales to fall as only investment bonds will be eligible to reclaim the 10% income tax credit on equity dividends from the 2004/05 tax year.
At the same time, 63% of IFAs now expect sales of corporate bond funds – which have tended to be the preferred consumer investment choice over the last three years – to drop.IFAonline
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