jisa recommendation

km1500

someone I know has just had a baby and want to open a junior ISA that they can pay into and also relatives can pay into from time to time EG Christmas, birthday money etc maybe the occasional lump sum

this is completely outside my experience and wondered if anybody could recommend which one to go with. I am assuming that the baby will not access it until they are 18
 
many thanks

eskbanker

Fidelity seems to be the go-to recommendation on here, based on their fees being cheaper than others, e.g. this thread from last week:

https://forums.moneysavingexpert.com/discussion/6491029/fidelity-for-childrens-s-ss

HL are also mentioned fairly often.

xylophone

The parents should read

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

Cash - unless resident in Bath, Coventry BS offers the best rate at the moment.


https://www.thisismoney.co.uk/money/saving/article-1583863/Best-savings-rates-Junior-Isas-children-s-accounts.html

Stocks and shares, Fidelity or Hargreaves Lansdown as above seem popular with forum members.

https://monevator.com/passive-fund-of-funds-the-rivals/ May be worth a read.

cloud_dog

km1500 said:

someone I know has just had a baby and want to open a junior ISA that they can pay into and also relatives can pay into from time to time EG Christmas, birthday money etc maybe the occasional lump sum

this is completely outside my experience and wondered if anybody could recommend which one to go with. I am assuming that the baby will not access it until they are 18
 
many thanks

They need to consider the intent of the gift.  I would suggest that someone who gifts some money to a child on their birthday wouldn't want that money taken out of the reach of the child until their 18th birthday.

Fidelity of HL would be the two go to providers for S&S Junior ISAs, as they do not apply a platform charge for their JISAs.

km1500

thanks everyone I will recommend the fidelity world index JISA

sorry for the silly question but how would they open one - I would guess call Fidelity?

wmb194

km1500 said:

thanks everyone I will recommend the fidelity world index JISA

sorry for the silly question but how would they open one - I would guess call Fidelity?

Fidelity's website.

Albermarle

km1500 said:

thanks everyone I will recommend the fidelity world index JISA

sorry for the silly question but how would they open one - I would guess call Fidelity?

Be clear that the JISA is the place where you can invest for a young person, that protects from any tax liability.

The Fidelity World Index is an investment fund that you can hold within the JISA.

The two things are separate. For example you could open a Fidelity JISA and invest in many different funds if you wanted to.

If you do want to open one then start here.Junior ISA | Invest in a Junior Stocks and Shares ISA | Fidelity

km1500

Many thanks for this - much appreciated