Child Trust Fund - Halifax

Lorraine_Murphy

My son has a child Trust fund with Halifax and it is now being transferred to Forester Life Limited.  I have the option of changing provider or sticking with Forester Life not really sure what to do.  Does anyone have any advice? We are talking £4000 in the fund.
Thanks in advance.

xylophone

How old is the child? Do you make regular contributions?

Lorraine_Murphy

11 years old and pay in £20 per month. 

xylophone

You could consider a transfer to a Cash JISA - Coventry BS offers 3.6% and would accept a transfer in from a CTF.
Or AJ Bell would permit a transfer in to their S&S JISA and a contribution of £25 a month - you might choose a multi asset fund for your child's investment.
https://monevator.com/passive-fund-of-funds-the-rivals/
https://monevator.com/using-vanguard-lifestrategy-funds-life/
https://monevator.com/low-cost-index-trackers/

Alexland

AJ Bell's £1.50 fund trade fee would be expensive on a £25 per month contribution. At age 11 then it might not be worth continuing with S&S if you would be derisking the asset allocation (and reducing the likely return) towards possible withdrawal at 18. Worth seriously considering the Coventry BS Cash JISA option.