Quoting Natural Goddess Mommy:" can it cause problems later in life? what about if he ever needs braces? will it present issues then?"
It can cause spacing problems. SO had his cut when his adult teeth came in; he had a gap that was an inch wide. When it was cut, his teeth came together and eliminated the need for braces.
I've never heard of it causing any problems other than the spacing between the front teeth, which is just a cosmetic problem. I guess if the person had crowding problems as well, it could make it worse and increase the severity of the crooked teeth.