Advisers need to be 'proactive' ahead of April ISA lock-in date

Advice firms warned of client loss if they do not explain potential risks

Isabel Baxter
clock • 1 min read

Financial advice firms could be at risk of losing clients if their advisers are not proactive on warning about risk ahead of this ISA season, says national IFA firm Continuum.

With economists forecasting a fall in interest rates starting next year, Continuum has noted that "savvy savers" are already locking into fixed rate savings accounts, with £4.6bn put into savings accounts in October. Continuum added that the effect of stalling savings rates could leave clients with a "nasty surprise" in the upcoming ISA season if their financial advisers are not explaining the potential risks of leaving savings in a cash ISA well in advance of the April lock-in date. It was revealed in the Autumn Statement that from April 2024, the government will allow multiple subsc...

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