Junior Stocks and Shares Isa

theshortstack

Morning all,

I've been trying to do some research into the best place to set up a Junior ISA for my daughter who arrived a little over four weeks ago.

The documents I've found on MSM and on Google though tend to focus on Cash ISAs or contain out of date information for S&S ISAs.

Basically, I'm just looking to compare options and rates to find the best provider. Can anyone point me in the direction of a good site to do this or make a recommendation themselves?

Thanks very much,

bowlhead99

They all have different fee structures based on how much you have, what kind of holdings you have (investment funds, or perhaps individual company shares that you select yourself) and how often you put new money in and buy or sell your holdings within the account.

Charles Stanley Direct is pretty much as good, for fees, as any you'll find:
https://www.charles-stanley-direct.co.uk/Our_Services/JISA/

Costs nothing to set up, nothing to buy or sell investment funds within the ISA, and just an ongoing charge of 0.25% per year on the average value of the fund investments that you hold. So if you have £1000 for a year, their charges will be £2.50. If £4000, £10. At that price there is no point looking around for somewhere cheaper. For example Youinvest is only 0.2% a year, but charges you a transaction fee every time you buy or change your holdings.

Those fees are the 'platform fees' for the provider running the account for you. Depending what investment funds you hold, there will be another fee taken out of the fund assets by the fund manager (usually between 0.1-1% a year depending on the type of fund), for actually managing the assets inside the funds which you bought on the platform.

As an aside, you talk about comparing options and rates. Charles Stanley will give you a very wide set of options, and competitive fee rates. However, it is not like comparing cash ISAs, where the different providers offer different rates of interest. The return you get on the money is not fixed, it depends on the investment performance of the company shares and bonds held by the investment funds that you select - so no S&S ISA provider offers fixed rates of return.

scottpa100new

I agree. Cavendish Invest, Charles Stanley seem to be the cheapest and then Fidelity.

fonsde

CHARLES STANLEY or Fidelity would you recommend for a small investor?

timgeo

This is my first post. I seem to have jumped onto this thread instead of starting a new discussion.

I manage a childrens home and we look after a age range of between 12-18 years . Generally the average is 14+. We would like to set up junior ISA for the young people in our care. A maximum of 7 in total . Can i set the junior ISA up myself and put these into each individual young persons name to access post 18+.

can yiou forsee any problems with this ?

Regards

timgeo

xylophone

https://www.gov.uk/government/publications/junior-individual-saving-accounts-for-looked-after-children

may be helpful.

You have checked that none of them already have Child Trust Funds?

yorkiebar

bowlhead99 wrote: »

Charles Stanley Direct is pretty much as good, for fees, as any you'll find:
https://www.charles-stanley-direct.co.uk/Our_Services/JISA/

Costs nothing to set up, nothing to buy or sell investment funds within the ISA, and just an ongoing charge of 0.25% per year on the average value of the fund investments that you hold. So if you have £1000 for a year, their charges will be £2.50. If £4000, £10. At that price there is no point looking around for somewhere cheaper. For example Youinvest is only 0.2% a year, but charges you a transaction fee every time you buy or change your holdings.

Charles Stanley have a minimum charge of £20/year on stocks/shares BTW.

eagleeye

Hi
I have opened jisa with smarterinvestment.They are only charging fund ocf and no platform fees.


https://www.smarterinvestment.co.uk/compare/juniorisa