daiking

Got £250 burning a hole in my pocket, anyone used a stakeholder or non-stakeholder shares account? Any feedback on providers?

Not really interested in vanilla savings accounts, they'll be inflated away.

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daiking

No-one playing fast and loose with their child's windfall?

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ap0gee

You've got to put it into a dedicated CTF account, don't you? We're trying to find something decent, as our little one got a fair wedge in 'delayed' inheritance from her late grandparents, and nothing out there seems worth investing in...

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TaviaRS

Think its Family Assurance I went with, their efical one....

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Skodaboy1983

Have you ever thought of a post office savings account, that is what my mum and dad started doing for me when I was young, got about £5000 to play with at present now that I've grown up.

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TaviaRS

The voucher has to go in a CTF

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vRS19TD

As someone who works for the government, i'd be interested to know what people are doing with their kids money.

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daiking

I know it has to go into a CTF and there's a list of providers in the info pack, some of which run a self selection share account. "Stakeholder" share accounts are (like pensions imho) a con and interests rates are so low as to make a savings account worthless.

I don't like the idea that the money is freely available to my spawn at 18 so I don't intend to put anything other than the governemnt bribe at birth and 5 years. Hence I'm also happy to gamble it on a single blue chip stock to start off with.

Just wanting to know if anyone else who is financially unsophisticated had done something like this and what provider did they use and what sort of charges did they face?

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daiking

If I could take it to the casino, I would!

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vRS19TD

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ap0gee

My old pension was invested in managed funds, selected by me, with choices based in no small part on the 'advice' of some stunning Russian blonde on Eurotrash who supposedly also happened to be a chartered accountant! (Ahh, to be so carefree again! ) I'll have to have another look at the options available, but I'd have no qualms about doing something like that again. I'm not convinced, that the paid-for advice would pay off any better than anything you could get from a decent trawl through reputable websites BTW. And now's probably starting to be a good time to invest in things like property as it's a fixed-term investment, and I can't imagine property prices are going to remain depressed all the way into the 2020s (but that is my own opinion - you might want to do some research of your own! )

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ZootyRS

We sat on the voucher for our first-born, so eventually the government opened an account with Abbey for us - stakeholder I think. So when child no. 2 came along, we just opened another the same.

I'd already opened a saving account for child no. 1 by the time the backdated CTF voucher arrived, so I doubt we'll put any more money into the CTF other than what the government coughs up. At least I can take the money out of the accounts I opened for them

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daiking

Precisely

To my mind, stakeholder provisions are just there to generate volumes of fees for the providers and because they're capped at such a low level, its not like they that bothered what happens with the performance. Likewise, if I didn't have a good company pension, I'd take a SIPP over a stakeholder one.

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Johnny50

Ours was put into a Lloyds TSB child trust.
Cant remember the name of the plan, but it was about the best at the time (18months ago)

Will dig out the details later.

daiking

The term property investment will remain an oxymoron for quite a while

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Quinten

I've put mine in the Abbey stakeholder one. It went from £250 to £254 to £268 to £242 in the space of 1.5 years... I bet Abbey are laughing though

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Awooga!!!