Trust Funds vs Junior ISAs

muddlingmywaythrough

I've got 2 kids and both have had a Trust Fund since birth. There's not much money in either Fund but I've had a couple of letters over the last couple of years to say that because of the markets not doing well there is an even smaller return on the investments made.

I'm sure about 6 months ago Martin said to transfer the money from a Trust Fund to a Junior ISA (??).  I didn't get around to doing this but want to get it sorted. Is this still the best advice? (now that it's a few months later)

Can anyone advise what I need to do/ask for? Thanks in advance 

xylophone

https://www.money.co.uk/savings/transfer-child-trust-fund-to-junior-isa


 You mean that each child has a Child Trust Fund invested in stocks and shares?

You have been contributing to the accounts over the last  thirteen years or so?

The performance has been disappointing?

Which CTF provider is involved and in which funds  is the money invested?

eskbanker

muddlingmywaythrough said:

I'm sure about 6 months ago Martin said to transfer the money from a Trust Fund to a Junior ISA (??).  I didn't get around to doing this but want to get it sorted. Is this still the best advice? (now that it's a few months later)

Junior ISAs replaced child trust funds 13 years ago, and it's been standard advice on here since then to convert CTFs to JISAs, given the better products available, so there's no time limit on that recommendation:

https://www.moneysavingexpert.com/savings/junior-isa/
https://www.moneysavingexpert.com/savings/child-trust-fund-vouchers/

muddlingmywaythrough

Thank you for all the responses, they've been really helpful and apologies for not replying sooner. I've been digging out the paperwork for my 2 kids and although both did have a Trust Fund originally they were with different providers and one of those providers had already transferred the account over to a Junior ISA and I now have the form to complete to transfer the other one (which is still a Trust Fund) so I'll get that completed and sent off ASAP.