Since the Isa concept was launched in 1999 by the then Labour government, there have been multiple changes both to the amount people can invest each year, and to the number of available Isa vehicles.

Over the past few years, we have seen the introduction of the Junior Isa (Jisa) - which in 2011 replaced the old Child Trust Funds - the creation of the Help to Buy Isa, the development of the Innovative Finance Isa and the March 2016 announcement of the Lifetime Isa.

This has expanded the range of available investments for your clients - all within the yearly tax-free limits set out by the government.

However, some providers do not consider the choice of Isa products to be simple or attractive.

Andy Bell, chief executive of investment platform AJ Bell, warned there is a danger of ending up with a “spaghetti soup” of Isa products.

“We will be campaigning for a single Isa product, with different allowances and benefit rules depending on the savers’ circumstances. Separate Isa products for each circumstance will just increase costs to savers.”

This guide aims to explore the pros and cons of each variation of this popular investment product, and will explain which type of Isa might be appropriate for clients at different life stages or in certain circumstances.

Contributors of content to this guide are: Simon Bashorun, financial planning team leader at Investec Wealth and Investments; Andy Bell, chief executive of AJ Bell; Patrick Connolly, certified financial planner at Chase de Vere; Richard Parkin, head of pensions at Fidelity International; Carol Knight, chief operations officer for the Tax Incentivised Savings Association; Calum Bennie, savings expert at Scottish Friendly; Neil Lovatt, product director for Scottish Friendly; Richard Donegan, managing director for Selftrade; Daniel Harrison, senior partner for True Potential; Danny Cox, chartered financial planner for Hargreaves Lansdown; Louise Halliwell, senior savings product manager at Yorkshire Building Society; Tom Williams, chartered financial planner for WH Ireland; and Simon Massey, director of wealth management for MetLife UK.

Simoney Kyriakou is content plus editor for FTAdviser