Children's Investment

nc1967

My children have some inheritance from their grandfather to be invested. I got some suggestions off this forum previously for:
City of London
Murray International
Aberforth Smaller
Aberdeen Asian

Would these still be recommended?

So far my mothers solicitor seems to want to control what is being done, even the choice of financial advisor - he is advising putting the whole amount which is £26k each into the Close Brothers Bond Income Portofolio Fund.

Any advice on this - also I have no idea what this is based on so what questions should I be asking?

I want the best for my children, but I am fed up being railroaded.

Any help or suggestions appreciated

xylophone

According to a previous post, the children were not to have access to the money until the age of 25 - did you (or the solicitor) check with HMRC re tax treatment? https://forums.moneysavingexpert.com/discussion/comment/51898767#Comment_51898767
See http://www.hmrc.gov.uk/trusts/types/index.htm
Is the solicitor both executor and Trustee? If so, investment decisions are up to him?
http://www.investmentguide.co.uk/sg-tex11.htm might be worth a look.

nc1967

The solicitor was neither executor or trustee - I have not been very happy with how the whole matter has been dealt with - but that is another story!
I will ask regarding the tax.
Thanks for the reply

xylophone

The solicitor was neither executor or trustee

Then what has he to do with the matter and how has he become involved?
If you are to be Trustee for your children then do indeed check the tax situation with HMRC.