The Lemon Fool

Any advice on opening individual share ISA's for kids, I have 6 grandchildren for whom I wish to open an ISA, purchasing the same amount of shares for each from the one company.
Is there a cheaper way of doing it other than purchasing the shares 6 times with associated charges.

You'll need to open separate accounts for each child. Accounts automatically transfer ownership to the children as they achieve majority.

I did the same for my sister's children, having funded my own kids' ISA/CTF since they were small. Despite my effort, my sister hasn't put a penny in them!

Hi Nigenry.

A bit depends on how many have common parents.

Let's say in the trivial case, they are all through one of your children. You could pay £9.99 to Interactive Investor (II) per month, which gives you an account including one free £7.99 trade per month. More importantly though, you could have all six JISA's under that account, and on the third Wednesday each month, you can invest the same amount for free into each.

More children, more accounts (between one and six) but for each child who has multiple of your grandchildren, you would still get a reduced form of the above benefit.

Regards, Newroad