Cheap Junior Stocks and Shares ISA provider

marathonmanuk

My sister is looking to open Junior Stocks and Shares ISAs for her two children who are 1 and 4, starting of with an investment of £1000 each. The initial investment would probably be in an Global Growth Investment Trust (SMT) but funds may be added in due course for added diversification. Can anyone recommend a cheap Junior Stocks and Shares ISA provider in order to shelter from CGT? Are there any providers than only charge a one off opening fee (i.e.no ongoing fees) as Iweb do for us grown ups?

Thanks

xylophone

http://moneytothemasses.com/quick-savings/parents/best-junior-stocks-and-shares-isa

might be worth a look.

cloud_dog

If you (sister) is going to go with shares based investments (I.T.s trade exactly the same as stocks) then there are a few platforms that do not charge any ongoing platform/AMC for holding shares.

TDDirect is one. Although be aware they have recently been bought by Interactive Investors so possibly/maybe their charging structure may change in the future.

The short-term downside is that they a buy/sell charge (£12.50). They do a regular investment option of £1.50.

I think iWeb charge £25 to 'join' but then there is no ongoing platform/AMC charges. £5 to buy/sell.

I believe there is zero chance of finding a UT/OIEC platform that will not make a platform/AMC charge; with the lowest being around the 0.25% level.

marathonmanuk

Thanks Cloud Dog. I see TD Direct Junior ISAs have no ongoing charges but requires an Adult Investment Account to be set up (e.g. their ISA is chargeable unless the value is over £5100). Iweb appears not to offer a JISA otherwise it would be ideal.

EdGasket

x-o have no joining fee but a £50 leaving fee. £5.95 per trade and no annual charge. Don't know if they do a 'junior' flavour of ISA; is that any different to a regular ISA?

marathonmanuk

You have to be over 18 to have a stocks and shares ISA but I see x-o do offer Junior ISAs with no annual charge so they look just the ticket. Many thanks

cloud_dog

marathonmanuk wrote: »

Iweb appears not to offer a JISA otherwise it would be ideal.

My apologies on that, I could have sworn I had previously reviewed / considered them.

cloud_dog

marathonmanuk wrote: »

You have to be over 18 to have a stocks and shares ISA but I see x-o do offer Junior ISAs with no annual charge so they look just the ticket. Many thanks

My dealing and ISA accounts are with X-O. The online website is fairly basic, i.e. no automatic dividend reinvestment option, but for an invest and forget (so to speak) with occasional top-ups / investment they have been fine, and their dealing charges are quite low.

They do not support fund investments (OIEC/UT) but you (sister) is focussing on an IT so, all good.