New to Junior stocks and shares ISAs

GD28

HI there

I'm new to stocks and shares ISAs and would like to open one for myself (adult) and my three kids (who currently have junior cash isas). Aware they're more risky so thinking about dividing up their pots with some in cash isa, some S&S isas. Does that sound sensible?

My financial situation has changed, so I won't be in a position to add more that about £40 p/m into each account from child benefit, so really it's more about making most of current savings pots.

I have about £15k saved for each child and they are 17, 13 and 9 years old and £40k in my personal cash isa.

I'm assuming maybe the 17 year old might have missed the boat as not such a long investment period for an S&S isa. I read somewhere that min 5 years is good to ride out fluctuations, does that sound about right? Also not sure what will happen to my 17 y/o in 10 months when he turns 18, can it continue? Likely the money will be used for my uni contribution, so keen to have post 18 investments that can be released annually.

With this being new area, any recommendations for a solid, customer friendly provider would be great. Questions I'm unsure about - whether you're locked in for a time period, if there are fees, what is a good ratio for S&S isa amount versus cash isas etc... Read another thread that mentioned VSL funds, not sure what they are. Any general thoughts would be super helpful.

I might have to suggest keeping tabs on what they get at 18 and share it around more evenly between them or my 17 year old is likely to be pretty out of pocket. 

Many thanks

Mark_d

If you're an adult you can't open a JISA for yourself but you can open S&S JISAs for your kids.  Investing in S&S carries a degree of risk but the degree of risk depends on what you invest in.  Large companies are less risky than smaller companies.  Investing in fund is less risky than individual shares because the risk is diversified and managed.  Investing in gilts is least risky.  Corporate bonds have slightly more risk than gilts but can still be mostly secure.
Personally I don't use any ISA allowance for cash - the returns from S&S are much higher than from cash so this is where you'll benefit most from the tax protection.
With S&S the general trend is upwards but over a short period of time you may well lose money.  Your 17 year old may well want the money for other things in the near future so S&S wouldn't be recommended.  But I think it would be suitable for your younger children.
I use Interactive Investor for my S&S ISA and I'm extremely happy with them.  AJ Bell are pretty good to so certainly worth considering.

Albermarle

I read somewhere that min 5 years is good to ride out fluctuations, does that sound about right?

It is seen as the very minimum. The longer you leave it the less likely to make a loss and more likely to see a good profit.
Also not sure what will happen to my 17 y/o in 10 months when he turns 18, can it continue? 

At 18, it will have to change to a normal cash ISA and he will have full control of it.

If you are still interested in S&S JISA's then these two are often recommended due to having zero platform fees for JISA's
Junior ISA | Hargreaves Lansdown
Junior ISA | Invest in a Junior Stocks and Shares ISA | Fidelity

Nurse2047

Fidelity are good they do not have a fee for junior s@s isas. Invest in one global index fund monthly and leave it. The 17yr old look on best regular saving rates on MSExpert page.