One Family Child Trust Funds

ChilliBob

Hey guys,
Does anyone know much sbout this one family outfit, that amongst other things, provides child trust funds?

My nephew and neice (13 and 16) have one from the Gordon Brown child trust fund thing. Basically had not much in it for years but has just had 9k out into it from my Mum as part of an inheritance thing

My brother doesn't have the time or the inclination to look into this really, so on his behalf I'm trying to dig around to see of its worth them moving to a JISA (e.g. With Fidelity) or sticking where they are if its *not too bad*. 

If its horrible I'll try to convince them to move. The one family website seems a bit light on fees and info like that. 

Cheers in advance guys

Alexland

It's a very average product. They are getting to an age where it might be better to switch to a 2.5% cash JISA if they are likely to be spending the money at age 18 on a car, uni, etc?

ChilliBob

Thanks as always @Alexland. Yeah, based on their ages I was thinking possibly even cash too - I'd love 2.5% dead cert interest right now! Alas I'm 38 no 13! Boo! 

xylophone

https://www.moneysavingexpert.com/savings/junior-isa/

Alexland

ChilliBob said:

I'd love 2.5% dead cert interest right now!

Yes preferential rates on children's accounts can be a good place to keep cash on the sidelines incase the market presents opportunities as they are still getting an above inflation return either way. Our little kids did very well from transferring temporarily into cash in late 2019 and reinvesting near the bottom of the covid crash about 4 months later. I am tempted to do it again as markets are looking low growth again. The way I see it the better their JISAs do the less likely they will need money from our ISAs.

ChilliBob

For people without the time or inclination it certainly seems like the best option.