Child trust fund help

artyboy

...of course if (as the OP has told me separately), the CTF was invested with a FS like the Foresters, I can well imagine it getting mostly swallowed up by fees. I fear we will get a lot more threads of this sort where people are just waking up to something that has metaphorically been left in the attic for 20 years...

daveyjp

https://www.bbc.co.uk/news/articles/ckg7j83drd5o

artyboy

daveyjp said:

https://www.bbc.co.uk/news/articles/ckg7j83drd5o

And I could well see the FOS awarding them money if Colombia Threadneedle don't just give them a few hundred quid to go away - but it's just more evidence of people taking zero responsibility for checking up on an investment. Despite, according to the article, them having been expecting a letter for years...

I think we can expect several more threads on here in the same vein...

kipsterno1

artyboy said:

daveyjp said:

https://www.bbc.co.uk/news/articles/ckg7j83drd5o

And I could well see the FOS awarding them money if Colombia Threadneedle don't just give them a few hundred quid to go away - but it's just more evidence of people taking zero responsibility for checking up on an investment. Despite, according to the article, them having been expecting a letter for years...

I think we can expect several more threads on here in the same vein...

There is a great episode of the Simpsons were Flanders  parents say, "You must help us, we haven't tried anything and it hasn't worked."

Reaper

I think Martin quoting the £2000 average figure is most unhelpful. Now parents who added nothing themselves and never checked how it was doing think it is realistic to expect the initial £250 to have magically turned into £2000

kaMelo

Reaper said:

I think Martin quoting the £2000 average figure is most unhelpful. Now parents who added nothing themselves and never checked how it was doing think it is realistic to expect the initial £250 to have magically turned into £2000

Not least because some received much more, £250 was the minimum, some received £500 and a few got £1000.

daveyjp

The average will also be skewed by what I suspect is a low percentage of parents who were in a position to invest and after 18 years received a 5 figure sum.