Advisers urged to explore employee share ownership
Ifs ProShare has called on financial advisers to recognise the advantages of investing in employee share ownership schemes for their clients.
According to the organisation, which acts as the voice of the employee share ownership industry, when discussing clients' saving and investment needs, advisers should consider recommending employee share plans as they represent a tax efficient method of saving.
A recent Ifs ProShare survey found that the number of employees participating in a Save as You Earn (SAYE) employee share plan increased by 600,000 to reach 2.3 million in 2007, compared with the previous year.
It estimates that around 5 million UK employees are now participating in some form of employee share plan.
Phil Hall, head of public affairs at ifs ProShare, said: "Increasing numbers of employees are recognising the benefits of employee share ownership but there is still a real job to do in terms of advice."
He says that some employees may not be participating in a plan made available to them through their employer because of a lack of understanding, while others may be participating but unaware that they could transfer shares to an Isa or a Sipp.
