Should I transfer to a junior ISA from Stakeholder CTF

eddiemacthedog

Looking for advice, my daughter was born in 2009 so qualified for a child trust fund.

I have a children's mutual stakeholder child trust fund account. Since it has started I have paid in £2017 and it's currently worth £2549 so have gained a few hundred pounds but does this give better value than a junior ISA?

I pay in £31 a month.

Could potentially get a 4% one with Hbos as I have one also but totally at a loss as to what to do, any help would be greatly appreciated.

Thanks in advance.

xylophone

You currently have a stocks and shares CTF stakeholder.

http://www.telegraph.co.uk/finance/personalfinance/savings/11424472/Should-you-make-the-switch-from-a-CTF-to-a-junior-Isa.html

http://www.telegraph.co.uk/finance/personalfinance/investing/isas/11498832/Moving-from-Child-Trust-Fund-to-Junior-Isa-advice-for-different-ages.html

http://www.thisismoney.co.uk/money/investing/article-1587994/Junior-Isa-Child-Trust-Fund-How-save-invest-children.html

Your child cannot have both a CTF and a JISA - if you wish to transfer you will have to approach the new provider who will make the arrangements and the CTF will close.

http://www.moneysupermarket.com/c/news/how-to-transfer-a-ctf-to-a-jisa/0085961/

Unlike the CTF, the JISA enables the child to split the allowance between cash and stocks and shares if required.

https://www.gov.uk/junior-individual-savings-accounts/overview

https://www.gov.uk/junior-individual-savings-accounts/overview

eddiemacthedog

thanks so much for that, on reading the links, im going to go for a stocks and shares ISA.

is there a good place to start looking?

thanks

eddiemacthedog

looked again at my paperwork, the yearly charge is 1.5% so defo changing.

xylophone

You will see some suggestions for platforms in

http://www.thisismoney.co.uk/money/investing/article-1587994/Junior-Isa-Child-Trust-Fund-How-save-invest-children.html

Some more here http://www.mummymoneymatters.com/savings-junior-isa/

You can compare costs and service.

eddiemacthedog

Spent a few hours on this today and i am heading towards hargreaves lansdown.

nice low charge, anyone got experience of them?

xylophone

The HL web site is excellent as is the service.

I used to have my ISA with them and left purely on grounds of cost - 0.45% on funds as opposed to a flat fee with another broker.

However, if you are happy with the charge, you should find it easy to choose your investments and monitor them.

[Deleted User]

Currently in the process of transferring from a Skipton BS CTF to an HL JISA. So far the service and web portal etc from HL is beyond my expectations Given the value of the fund and the service rec'd i'm happy with the fees.

InsertWittyName

Transferred my son's CTF to a HL JISA holding Vanguard 80% LifeStrategy.

I've already got a SIPP with HL so had experience of the platform.