UK parents investing in kids
Investors in the United Kingdom may be going through much the same experience as their Australian counterparts but that has not stopped them investing in their children’s future by way of Child Trust Funds.
A survey conducted by the UK’s Tax Incentives Savings Association (TISA) found that a further 480,000 accounts had been opened in the year since March 2007, with nearly 134,000 of those having been opened in the last quarter.
According to TISA, the average size of contributions from parents and family members through regular direct debits and lump sums had actually increased over the quarter to £21.64.
The survey also found that lump sum payments into the accounts had increased by around 4.9 per cent.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
