Junior S&S Isa

hels234

Hi, has anyone opened one for their child? Thinking of doing this for my one year old. She's already got a cash isa but now thinking of a stocks and shares one with a regular monthly amount. Anyone any advice or recommendations? I have a LISA with HL and wondered about using them again just for ease?

jimjames

For a 1 year old a S&S JISA would be a far better option than a cash ISA as you have plenty of time for the investments to grow by the time they are 18

bowlhead99

Yes agreed, S&S investment funds are far more suitable than cash for a 17 year time horizon. There's nothing particularly wrong with HL's offering - their fees of 0.45% a year on the balance held in the investment fund would be a lot of money if you have tens of thousands invested, but for small pots the actual amount of pounds they would be charging you is pretty small. They allow regular investments from only £25pm. You could always change provider later for a nominal transfer-out charge at some point in the next 17 years.