Advisers are seeing an increase in demand for Isa transfers as savers worry about performance, according to research from MetLife.
Research carried out among a sample of 107 specialist retirement advisers in February 2017 found 35 per cent had seen an increase in demand for support with cash Isa transfers while nearly two out of five (39 per cent) reporting an increase in demand for stocks & shares Isa transfers.
Advisers are particularly concerned about the need for Isa advice in the run-up to retirement, with around 47 per cent saying they would consider transferring client funds into Isas that provide guaranteed capital lumps sums and offer the potential for growth ahead of retirement.
In a separate poll of 1,071 employed adults, sponsored by MetLife, one in four Isa customers were found to be considering moving their money because of worries over performance.
Cash Isa customers are nearly four times as likely to consider transferring their funds, the study found, with 19 per cent of cash Isa savers considering moving compared with 5 per cent of stocks & shares Isa investors.
Simon Massey, wealth management director of MetLife UK, said transferring Isa holdings in the current low interest environment made sense.
“However, savers need to be made more aware of the options available.
"Particularly those who want to retain a level of certainty they get from cash but also want to benefit from the potential for growth from stocks & shares Isas."
MetLife offers an Isa with an income or capital guarantee with an initial minimum investment of £15,000.
Clive Balchin, a partner with James Trickett and Son, which is based in Haslingden, Lancashire, said the research did not reflect his experience.
Mr Balchin said: "The vast majority of people we deal with are 50 plus and they have inherited £50,000 to £60,000. They have a good pension and [the Isa] sits there and it builds up.
"I do not have anyone who relies on their Isa for their income."