With IE not currently offering JISAs, what platforms are others using?
I have two to open, and is really like something as easy and cheap as IE.
Same question for Junior SIPPS too!
I was browsing Hargreaves Lansdowne and they have dropped their fees on Junior Isa’s. You can talk to them and open.
Junior Sipps I think Vanguard offers the cheapest.
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Fidelity don’t charge any platform fees for either Junior ISAs or Junior SIPPs. They have trading fees for ETFs and individual shares but not for funds. My children’s money is invested in a low cost global tracker fund with 0.1% annual ongoing charge (Fidelity Index World Fund).
So no charges other than the 0.1% if I go with a global fund? That sounds appealing!
Do you know if I have to pay in minimum £25 pm if I add a lump sum in to begin? It’s not clear
Yes, only fund management charges until they turn 18, then presumably the usual Fidelity % platform fee kicks in, and the situation about whether Fidelity is still a suitable platform can be reassessed at that point.
From their website,
start a regular savings plan from ÂŁ25, or invest a lump sum from as little as ÂŁ100
which reads to me as if you could invest a minimum lump sum of ÂŁ100 without setting up a regular monthly investment.
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Hi,
Both Junior ISAs and Pensions are currently on our product roadmap, and we are looking to release them in the near future.
As they’re quite complex products to build, we currently do not have a timeframe as to when they’ll be available.
Please be assured that we will post updates on our Community Forums and social media whenever there are new products added to InvestEngine.
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I went with Fidelity in the end…
Costs are good, but the UX wasn’t great. I think InvestEngine could best them there! It was a difficult onboarding by comparison thats for sure.
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Wow, I just noticed this though:
Those are quite high charges for each trade…
I wanted to save £25 pm in to each of my kid’s SIPPs, that is a 6% fee!
Saving it in a traditional account and doing one trade a year makes it slightley cheaper, but it’s still 2.5%! Not great, and just seems to favour those with more to save.
Shame.
Come on InvestEngine, we need those JSIPPS!
Those trading fees are for exchange traded funds, investment trust and individual shares.
They have plenty of non exchange traded funds which do not have any trading fees, or platform fees on their junior accounts. These funds are usually labelled Open Ended Investment Companies (OEICs).
e.g. Fidelity Index World Fund P Accumulation Key Statistics | GB00BJS8SJ34 | Fidelity
Ah, phew! That’s what I went for in the end.
They really don’t make it easy to understand’