AJ Bell calls for radical ISA overhaul to encourage saving

The AJ Bell co-founder has called for Innovative Finance ISAs (IFISAs) to be scrapped as part of an overhaul of the ISA market. Bell, who stepped down as chief executive of AJ Bell last year but remains a consultant, is leading the company's proposals. The overhaul plans include combining cash and stocks and shares ISAs into a single product and reforming the Help to Buy and Lifetime ISAs, encouraging more people to save. The plans have been presented to chancellor Jeremy Hunt and aim to simplify ISAs to motivate savings and investment. Consolidating all existing ISA variations ...