Junior ISAs

[RESSE]

Does anyone know of a Junior ISA that has low charges?

Currently my wife's sister has one for her son with an annual charge of 1.5% (Forester's Life Stakeholder Managed No. 1 Fund).

I know the choice for JISAs is relatively limited.

Thanks in advance.

R

[Simpo Two]

Dunno about ISAs but Halifax have a children's account that pays 6% gross, if that's a start?

[RESSE]

Simpo Two said:

Dunno about ISAs but Halifax have a children's account that pays 6% gross, if that's a start?

Thanks for the above (she wants a stocks/shares ISA) and after a bit of research either Hargreaves Lansdown or Fidelity appear ok?

Provider Minimum investment (per month) Annual management charge
Hargreaves Lansdown £25 (or £250 lump sum 0.45%
Fidelity £50 0.35%
JPMorgan £10 a month or £100 lump sum No fee if you pay £100 lump sum
Scottish Friendly £10 a month or £50 lump sum 1%
BestInvest £50 No initial charge on most funds
Legal & General £30 0% initial (then 2.15%)
Children’s ISA (Shariah) £10 5% initial (then 1.6%)
Children’s ISA (ethical) £10 5% initial (then 1.6%)
Family Investments £10 1.5%
The Children’s Mutual £10 1.5%
Halifax £20 1%

[C0ffin D0dger]

By way of a bit of advice, I'd only go down the route of tax free savings for my kids if I'd exhausted all my own (and the wife's) ISA allowances first.

Nothing wrong with putting a bit aside for your kids future but do it in your own name if you can as that way you retain complete control over how that money may be spent in the future. Come adulthood (18 years of age) whoever's name is on that ISA has complete control of it and can spend at will. You may have sensible, level headed sons or daughters at that age who use the money carefully to further their education or whatever. They may however be going through a rebellious phase and piss the whole lot away. That's the risk you take.

[RESSE]

She has used her and her husband's ISA allowance for the current tax year.

The JISA in question (apologies as I should have mentioned in my first post) is a old Child Trust Fund that she converted to JISA.