Clients aged 30-54 are the most likely to have been the first to invest in equity ISAs in the new tax year, according to Hargreaves Lansdown data.

Think-tank The Social Market Foundation has called for the tax-free ISA allowance to be cut with the money saved used to reward saving by young people on low incomes.

New research has shown that 60% of Financial Planners expect clients to start managing more of their investments, such as pensions and ISAs themselves, instead of using an adviser.

The average stocks and shares Isa fell by 13.3% during the 2019/20 tax year.