The government should allow adviser charging to be facilitated via Lifetime ISAs to make advice on the products more attractive, provider AJ Bell has said.
The provider warned the absence of adviser charging from the LISA may act as a barrier to advising clients on the merits of using the product. Almost half (45%) of about 200 advisers AJ Bell spoke to in March thought enabling adviser charges via the LISA would encourage more clients to take up the product. Under current LISA rules, adviser charges are classed as the chargeable withdrawal, meaning they would incur the 25% exit penalty. The government's latest design note confirmed charges could be taken from the LISA to pay the LISA manager without incurring the charges but no such ...
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