Posted: Sat Nov 03, 2007 10:31 am
Post subject: Child investment: grandchildren
I want to invest £5000 between my two grandchildren in an ethical or sustainable fund of some kind which benefits from no tax implications. Grandparents can only pay into a Child Trust Fund and ISA's are out. Where can I get good advice?
Posted: Mon Dec 31, 2007 11:54 am
Post subject: Child Investment - Grandchildren
Personally having had Children's Bonus Bonds as a child myself and going to be investing in them when my little one is born in March 08, I would be say go for these.
They are a high interest rate and also the investments get bumped up by added maturity bonuses. My mum invested £150 and I took them out when I was 18 and had about £800 if my memory serves me correctly.
There is a maximum that they can be invested and I think that it is £3k per person but all the details are on http://www.nsandi.com/savingneeds/investforachildsfuture.jsp
However, investing this sort of amount you should be able to go to any Independent Financial Advisor and they should advise you for free because they will get their payment from whoever you end up investing with,
Hope this helps.