That’s what J. I. Packer calls Keswick theology. And for good reason, too. It nearly destroyed him.
For details, see my guest post today for Kevin DeYoung’s blog: “Pietistic Goofiness: How Keswick Theology Nearly Destroyed J.I. Packer.”
Update on 8/23/2017: My latest book attempts to survey and analyze “let go and let God” theology more accessibly: