Kids savings advice, is my plan sound?

Arfa__

New Year's resolution has been to sort out the kids accounts to make sure they're earning the best for them. Got a bit of a plan, is it sound? Are there better suggestions than this?

So, kids are aged 13 and 10. They've got:
Child trust funds, investment backed to FTSE 100 fund. Oldest has £6.5k, youngest has £3.5k
Halifax savings, long since reverted to basic 2% interest, both got about £600 each in there.
Oldest also has a crappy Co-Op current account with ~£100 at a crappy 0.4%.
Just got oldest a TSB under-19 account, with 2.5% interest. Her pocket money now goes into that, but she'll be spending on that account... Prob open same for youngest in April when he turns 11.

I'm inclined to leave the Trust Funds as is. The funds been a bit up and down (-1.8% in 2018, 10.8% in 2019!).
I'm thinking of opening JISA's with Coventry BS at their 3.6% rate, to hedge bets against the riskier investment trust funds. Then move their Halifax savings into them. Ditto the old Co-Op accounts. I was put off other savings accounts due to the best rates only available for first year, and not wanting hassle to keep moving stuff each year.
-> Seem a reasonable plan? Any better suggestions? I assume they can have both trust funds and JISA's?

Unfortunately, we've not paid much into their accounts for a few years due to wife out of work and skintness. She's full time again now, so we plan to resume a monthly payment to kids savings.
-> How would you distribute such regularly payments between accounts?

xylophone

I assume they can have both trust funds and JISA's?

No, they can't. See

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

However, the CTFs can be transferred to JISAs which permit holdings of both cash and stocks and shares.

https://www.gov.uk/guidance/transfer-of-a-child-trust-fund-or-junior-isa-if-youre-an-isa-manager#transfer-of-a-ctf-to-a-jisa

https://www.choose.co.uk/guide/transfer-child-trust-fund-to-junior-isa.html

And note

Transferring whatever's saved in the CTF straight into the JISA doesn't have any impact on that allowance: that means family members can deposit up to another £4,080 during the rest of the year.

bhjm

ever thought about starting a Pension for the little ones?

Arfa__

Ah I see. So looks like I need to move those CTF's over to a Stock/Shared JISA first. And then open the Cash JISA alongside it.

Struggling to find much in recommendations for stock/shares JISA's. Does Martin Lewis have any opinions? Was looking at one from WealthSimple, anyone heard or know if they're any good?

xylophone

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

might help.