Lump sum saving for children under 16

Poochypoo

Hi...this is my first post, please be kind to me!
I've a £2000 lump sum to invest for each of our 3 children, they are 2, 13 and 15. I don't want to save a regular amount per month. Does anyone have any advice on the best type of accout for this?

dunstonh

When do you want them to have it? Does it need to be in trust?

The 2 year old can probably have a unit trust style investment giving the timescale. Assuming 16 years sitting there, a unit trust (in any area really) offers better potential for growth. The 13 and 15 year old though may be more appropriate in a savings account. Although the 13 year old can look at a low risk funds.