Future Savings for new baby daughter

Bluefusion

We would like to open a account where we can put away about £100pm towards the future for our daughter. What would be the best option a savings account, mini ISA., and do we open these in our names or hers?

Any help, advice or recommendations?

deemy2004

Best is the alliance & liecester one for kiddies - can't recall its name off hand. You open it in their name, but your names linked to it until they reach a certain age, 7 I think.

Children can't have ISA's until there 16.

cloud_dog

Depending on your adversity to risk, for your daughter, I would suggest splitting the £100 into two. Put aside £50 pm into a cash savings account and £50 pm to go with the governments Child Trust Fund monies (if you're entitled) into an investment vehicle such as a Unit Trust / OEIC, or Investment Trust (added IT in just to keep Deemy happy) ;D.

I would suggest finding a good general trust either investing in the UK or a global one.

This is pretty much what I have done. Except that what I will do over time is re-allocate the investment monies into different funds / themes to diversify.

cloud_dog