The Share Centre to launch Lisa in April

"Provider just don't create enough products targeted at millennials," he said.

He dismissed fears the Lisa would cause this demographic to opt out of auto-enrolment.

Article continues after advert

"When I talk to my clients about auto-enrolment, I talk about the free money that comes through the employer contribution. And they very quickly get it. I'm yet to meet anyone who has opted out."

However, he said many of his clients were self-employed, and for them the Lisa was a good alternative.