Why advisers should brush up on the often-overlooked Lifetime ISA

Despite hurdles there is real value in the account

clock • 3 min read

Laura Suter makes the case for the Lifetime ISA, which she says is not advisers' usual stomping ground...

The Lifetime ISA is not obvious stomping ground for many advisers. It's not the simplest account to explain - with its two-headed purpose of saving for retirement and house deposit. And for many advisers, it will be appropriate for the children of their clients, rather than the clients themselves. But with a potential £1,000 a year of free money from the government up for grabs, it's worth a little digging. It can be a great tool for family financial planning, for parents or grandparents looking to pass on wealth to their children.  There is a £4,000 annual limit per account holder...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ISAs

Time and patience: Will the British ISA revitalise UK equities?

Time and patience: Will the British ISA revitalise UK equities?

'The UK stock market currently navigates choppy waters'

Priscilla Chueng
clock 28 March 2024 • 3 min read
Half of UK adults would consider opening a Great British ISA

Half of UK adults would consider opening a Great British ISA

Current ISA savers most likely to take advantage of the new product

Isabel Baxter
clock 15 March 2024 • 2 min read
Advisers positive that Great British ISA will boost savings

Advisers positive that Great British ISA will boost savings

Almost two thirds say they think it will lead to an increase

Isabel Baxter
clock 11 March 2024 • 1 min read