Junior stocks and shares ISAs

SaveSmartly12

I’m trying to decided between Fidelity or HL for JISAs. Can you tell me why you chose either and/or if there are any others I should consider? Thanks. 

Albermarle

They are the two that are normally recommended as they both charge zero platform fees for JISA's.
There is not a lot to choose between them in my experience. Both well established and with good customer service.
What is more important is which investments you choose for the JISA.

Alexland

SaveSmartly12 said:

I’m trying to decided between Fidelity or HL for JISAs. Can you tell me why you chose either and/or if there are any others I should consider? Thanks. 

They are the only ones that I would consider as the accounts can be run for free and they give a lot of choice.

There are still some differences in what you can invest in. For example Fidelity offer a discount on their Fidelity Index World developed world tracker if held on their own platform so the cost of the fund is just 0.10% pa. HL offer access to buy inflation linked gilts directly so you can roughly align the maturity date to the child's 18th birthday.

DavidT67

SaveSmartly12 said:

I’m trying to decided between Fidelity or HL for JISAs. Can you tell me why you chose either and/or if there are any others I should consider? Thanks. 

HL has no platform or trade fees for JISA. 

FI charges trade fees for stocks and shares, including ETFs.

Alexland

DavidT67 said:

FI charges trade fees for stocks and shares, including ETFs.

Only if they are exchange traded, no fees for buying and selling traditional (OEIC) fund units.

SaveSmartly12

This is our first involvement in stocks and shares so want something that has set options which we can then leave. I know HL does expert managed and tracking the market. Is the latter ok? 

eskbanker

SaveSmartly12 said:

This is our first involvement in stocks and shares so want something that has set options which we can then leave. I know HL does expert managed and tracking the market. Is the latter ok? 

For most newbie investors, a global index tracker is likely to fit the bill, assuming that being 100% in equities fits investment objectives, timescales and risk tolerance - such funds are widely available and will be significantly lower cost than a HL managed offering.  Lower risk simple buy-and-forget options are available in the form of multi-asset funds, again available from numerous fund managers and on all major platforms.

ColdIron

The HL in house cash cows ready made funds can be quite expensive and the multi-manager funds are even worse. Most of them seem to be a selection of funds run by external managers (the people whose expertise achieve the objectives) that you could buy directly which they slap an extra layer of charges on

You might be better looking at one of the many multi-asset funds by HSBC, Vanguard etc some at a fraction, up to a tenth or so, of the cost. All available at HL

Albermarle

Or if you go with Fidelity, they have their own low cost Multi asset funds ( Allocator range- charge 0.2%) as well as the ones mentioned above, and their own global index tracker Fidelity World P ( charge 0.12 %) .