Junior ISA

talexuser

We decided early on that I should invest for the Grandkids through Mum's ISA since she did not use all her allowance every year, and would have some control over spending. It is doing ok and now I want to open a Junior ISA for both kids on a 10 year timescale with smaller amounts which would come in useful for university or a first car but maybe not enough to blow on a world cruise

I understand the mother can open the iSA with £250 each and then anyone else (ie me) can contribute from time to time but I don't know anything about providers.

Any recommendations for the lowest cost platforms please? It will probably be a world tracker.

eskbanker

Fidelity or HL:

https://forums.moneysavingexpert.com/discussion/6492099/jisa-recommendation

xylophone

Hargreaves Lansdown might suit.

https://monevator.com/best-global-tracker-funds/

mark_cycling00

A question on this area:

I have a JISA for my sprog and we'll do the full £9,000 for next 3 years. It's through my vanguard account but in her name, does this count towards the total funds that I have invested? I know the fees max out at £250,000

I do 75% world etf and 25% world esg. Seems to be doing about 12%pa at the moment..

cloud_dog

mark_cycling00 said:

A question on this area:

I have a JISA for my sprog and we'll do the full £9,000 for next 3 years. It's through my vanguard account but in her name, does this count towards the total funds that I have invested? I know the fees max out at £250,000

I do 75% world etf and 25% world esg. Seems to be doing about 12%pa at the moment..

If it is a Junior ISA account (as you mention) then it (money/investments) in the account belong to the child.

You really should consider transferring the Vanguard JISAs to either Fidelity or HL, as neither apply a platform fee (or transaction charges for OEIC/fund investments).

mark_cycling00

Thanks very much. I'll look to transfer it 

talexuser

Thanks, it looks like HL is a good option, both HL and Fideliy have no platform fees, but Fidelity have a £7.50 deal fee whereas HL appear to be free dealing so smaller tops ups are useful as and when you fancy it.
I imagine they are loss leaders, there must be administration work involved, hoping customers will stay on later on.

cloud_dog

talexuser said:

Thanks, it looks like HL is a good option, both HL and Fideliy have no platform fees, but Fidelity have a £7.50 deal fee whereas HL appear to be free dealing so smaller tops ups are useful as and when you fancy it.
I imagine they are loss leaders, there must be administration work involved, hoping customers will stay on later on.

Not for OEICs.

talexuser

Thanks, that was not too clear on their fees page, but is under share dealing.
https://www.fidelity.co.uk/junior-isa/fees-and-charges/#tab-link

Albermarle

talexuser said:

Thanks, it looks like HL is a good option, both HL and Fideliy have no platform fees, but Fidelity have a £7.50 deal fee whereas HL appear to be free dealing so smaller tops ups are useful as and when you fancy it.
I imagine they are loss leaders, there must be administration work involved, hoping customers will stay on later on.

If you buy shares, Etf's etc with HL it is £11.95 a trade I think.
For both platforms it is better to stick with funds in the JISA, especially for regular top ups. 

ColdIron

HL appear to have no charges whatsoever for JISAs

https://www.hl.co.uk/investment-services/junior-isa/savings-interest-rates-and-charges