Advisers call for simplified ISA market with one single product

More than half believe ‘unnecessary’ complexity’ has crept into the market

Isabel Baxter
clock • 1 min read

The majority (84%) of advisers want one ISA product that covers all the existing benefits of ISAs, according to research from AJ Bell.

This is according to a survey among 349 advisers conducted in August 2023. The survey found that 65.9% said unnecessary complexity has crept into the ISA market. Over 77% of advisers said that one of the reasons why there is complexity in the ISA market is because of too many variants and names. Other reasons included: restrictions over only being allowed one type of ISA a tax year (34.6%); the Lifetime ISA rules (42.5%); how ISA funds are passed to spouses on death via an additional permitted subscription (26.3%); and other (4.2%). The research has come after AJ Bell co-founder...

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