Less than one in 10 (8%) independent financial advisers (IFAs) have seen an increase in their clients paying into ISAs since the rule changes in April, Opinium has revealed.
In a bid to encourage competition and boost rates, the Government changed the rules to allow for savers to pay into more than one of each type of ISA annually.
However, in a survey of 200 financial advisers, just 8% have seen an increase in their clients paying into ISAs since these rule changes, while the majority (87%) said there has been no change in terms of their clients paying into ISAs in this period.
Global head of financial services research at Opinium, Alexa Nightingale, said: "The change in ISA rules came into force in April this year, but appears to have made little impact on savers’ behaviour. It was hoped that they would feel empowered to seek out the best returns by allowing them to easily move between different providers.
"With interest rates finally beginning to fall, advisers will likely encourage clients to seek the best returns possible, so we may see more of an uptick in people paying into multiple ISAs as the year goes on."
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