While there are a range of safe and tax-efficient vehicles available when investing for children, unit trusts look the most attractive bet given the potential long-term nature of the investment
When it comes to deciding what to get the grandchildren for their birthdays, the latest must-have toy will almost certainly be long forgotten by this time next year. They might not thank you for it now but a gift of an investment will be far more valuable in the long term. Now the problems really start. Choosing between toys is a stroll compared to choosing between the mass of financial products on offer. In the first place, Isas cannot be taken out on behalf of minors so are a non-starter unless you simply wish to build up a fund so the proceeds can be handed over once the child reache...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
