As the alternative finance industry gears up for growth, exclusive research commissioned by AltFi demonstrates a remarkable lack of awareness for the IFISA.
Published: Monday 12 February 2018
It is clear 2018 is the crunch year for the Innovative Finance ISA. Announced in March 2015, launched without any of the P2P world’s biggest names on the ticket in April 2016, and held back ever since as they kicked their heels awaiting authorisation, the moment has finally arrived when the stars are aligned. The leading platforms are finally able to start promoting it in earnest – so what happens next? AltFi’s market-leading research has found clear appetite among P2P investors to use the new, tax-free wrapper – but almost no one else has even heard of it. The IFISA faces a major challenge to break through with investors and prove its worth. A wall of public ignorance stands between the Innovative Finance ISA and mainstream adoption, however, with more than three quarters of people recently surveyed by saying they have never heard of the government-backed tax-free alternative investment wrapper.