Svenja Keller
Partner, Wealth Planning

Finding the best Children’s Savings Accounts

Every parent or grandparent wants to ensure they give their children the best possible start in life.

If you are simply looking for somewhere to store your cash savings over the short term, then this isn’t the right option for you. But, if you are looking to build your family’s savings over the long term, whether that’s to pay for university fees, or to help your children onto the property ladder, investing in a children’s savings account, like a Junior ISA, can be a great way to kick start their savings.

By harnessing the power of saving and investing one pound (and reaping the benefits of compounding), ), you can give their savings a real chance to grow. Whether you have a specific goal in mind or this forms part of a wider financial plan, we can help you to create a savings and investment plan that meets your ambitions.

Children’s Saving and Investment options

  • Junior ISA
    With a contribution limit of £4,128 (for the 2017/18 tax year), the Junior ISA provides all of the tax benefits of a standard ISA, with the additional comfort that they cant take full control of the money until they are 18.
  • Junior Pension
    Another option is the Junior Self-Invested Personal Pension (SIPP) which, as with a traditional SIPP, receives basic rate tax relief of 20% on any contributions up to the annual allowance of £3,600 (for the 2017/18 tax year). The funds are not available until the child’s normal retirement age (currently 55) but can be a fantastic option to kick-start pension savings.

You can read more about the options available to you in our “How To Save and Invest for you Family” Guide below.

Contact Us

SPEAK TO ONE OF OUR SPECIALISTS

Should you like to open a JISA, Junior SIPP or Bare Trust, or would simply like to find out more about these alternative children’s savings accounts, please contact us below via:

What to expect as a client

Our role as Advisers is to help you meet your ambitions and identify how best to do so.

Having been voted Wealth Manager of the Year 2017 and on several other occasions, we work with many parents, and increasingly grandparents, who want to make sure they understand and are making the most of what is available to them.

Whether you are new to investing and want to explore how to make your children’s savings go further or a seasoned investor looking for expert advice on where to invest, we have an adviser and service to suit you.

Saving and Investing for Your Family guide

Download our How to Save and Invest for your Family Guide to learn more about getting started on the road to successfully planning for, and managing, the financial challenges that come with raising a family.

Submit

Junior ISA

Kick-start a savings account for your child or grandchild with a Junior ISA and save up to £4,128 per annum in a tax free environment.

Junior SIPP

With contributions now £3,600 a year after tax relief, parents and grandparents are turning to the Junior SIPP to provide their children and grandchildren with a kick-start to their retirement planning.

Bare Trusts

Offers a means for grandparents to nurture their grandchild’s savings through investing assets on their behalf.