Even firms like Zurich and Fidelity - which have previously been more bullish about the controversial new Isa than others - signalled an April launch date for their proposition was now unlikely.
Following the passing of the Lisa into law last week, FTAdviser asked a wide selection of life companies, platforms and banks whether they would have a product ready for market by April.
Only Hargreaves Lansdown confirmed it would have a Lisa ready for April.
A spokesman for Zurich said it would definitely not have one ready by April, backtracking on a previous commitment after the government took longer than expected to confirm the finer details of how the product would actually work.
Martin Palmer, Zurich's head of corporate funds proposition, said the provider would look "to see where the market is going", adding there were "customer risks" that needed to be addressed.
A spokesperson for Fidelity International, one of the most vocal proponents of the Lisa, said the provider could not commit to being ready by April 2017, but did confirm it would have a product available at some point in the next year.
After Hargreaves', that was the strongest promise any of the providers would make to launching a Lisa.
Old Mutual Wealth's Jon Greer was more negative than most.
Mr Greer said the provider was "taking a watching brief" on the Lisa.
He said the product's hybrid structure was "slightly muddled", making it unclear who it would really serve - a factor he described as "worrying".
A spokesperson for Royal London said the provider had not yet decided whether or not to offer a Lisa, saying it required "more information" on the regulatory requirements.
However, Royal London did not rule out eventually offering a Lisa, despite the fact that the provider's director of policy and former pensions minister Sir Steve Webb has been the Lisa's prominent critic, alongside his successor as pensions minister Ros Altmann.
Aegon's pensions director Steven Cameron, also a prominent Lisa sceptic, said the provider could not "commit to any firm launch date at present".
However, he kept the door open to offering a Lisa once the FCA's final regulations are set in stone.
A spokesperson for Aviva said it was "unlikely" the firm would have a product ready by April, citing lack of detail and "concerns" the Lisa would be seen as a replacement for a pension.
Banks were just as unsure of their position as life companies.
Royal Bank of Scotland, Lloyds and Barclays all stated that they could not confirm whether or not they would offer a Lisa, while HSBC did not respond when we asked if it planned to offer the savings vehicle.
Barclays was the most positive, however, stating it was looking at offering both a cash and a stock and shares Lisa.
Santander, meanwhile, joined Nationwide in stating it had "no plans" to offer a Lifetime Isa.
But even if the choice is limited to one provider in April, Fidelity pointed out that as long as providers launch a product before the end of the 2017 to 2018 tax year, customers would still be entitled to the full 25 per cent government top-up, worth up to £1,000.
However, Fidelity was the only provider to commit to a 2017 to 2018 launch date.
Commenting on the potential lack of Lisa providers, HM Treasury, the department responsible for the Lisa, said: "We anticipate there to be a number of providers ready to offer the Isa right from the start and, as is often the case with new products, this market will develop over the course of the first year.”
james.fernyhough@ft.com
