EISA committee to look at engaging more with IFAs

EISA committee to look at engaging more with IFAs

The Enterprise Investment Scheme Association has established a financial planning committee to forge closer links with advisers.

Martin Fox, chairman of the committee, said it would look at encouraging more financial planners and wealth managers to engage with EISs and seed EISs.

Mr Fox added: “It is difficult to measure, but we believe uptake of EIS, and to a lesser extent SEIS, is increasing within the intermediary community.

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He said EISs could work as a legitimate financial planning tool, particularly for high net-worth clients.

EIS investments qualify for tax benefits including 30 per cent income tax relief up to £1m a year, provided shares are held for at least three years.

Adviser view

Simon Bonnett, director for Essex-based Fiducia Wealth Management, said: “EIS is often overlooked because of the perceived complexity and higher risk of loss, but we have had more than 20 years history of investment and innovation, plus planning opportunities.”