JISA, experiences and cheapness

[macron]

Seems after a string of sales something I set up has ended up with the diabolical JP Morgan. Who can fk off so far it's untrue.

Looking for a kids stocks and shares, MSE says of all people HL are cheapest, in terms of no fee for it and no fee to buy and sell. But they do want a hopping £25 PCM minimum inbound. Which makes for a good habit. Am I going to get screwed else where?

It seems AJ Bell has one, they also want £25PCM min, want a fiver to buy/ sell individual shares and also want up to £2.50 PCM to keep them, although it's £1.50 for the far more likely fund purchases and no ongoing.

Fidelity also on their list with no fee and no fees for funds, £7.50 to buy shares.

It will be funds, so am thinking probably Fidelity TBH, to ensure no minimum ongoing. Anyone use them? I have no experience at all. Anything else recommended? TVM!

[NowWatchThisDrive]

For HL the £25 is just the minimum amount if you want to fund it via direct debit, but you don't have to. You can just add cash whenever and there's no account or dealing fees.

[donaircooleone]

HL interface and app is a bit naff imo.

Fidelity is a good shout, but I've gone with Freetrade (JISA launched 01/04/2026). Minimal fees (FX fee not great but I stick to funds generally).

[Blue_star]

I set myself up an account with vanguard and opened jisa. Nice easy cheap, I like it. You cannot invest in anything too exciting tough

[PhilboSE]

Used HL for x3 JISAs (and child pensions) for about 15 years I think. No issues and I’ve found the app perfectly good enough for most things and there’s always the website version which has more functionality.

Very wide range of funds & shares to invest in.

[CoolHands]

Surely just getting tracker is what you need? So the buying and selling shares fee is irrelevant.

[Cats_pyjamas]

I have HL for my lad. But the grandparents want to pay in a regular amount, I'm looking at fidelity so he has a separate pot. Both are zero fees. (Certainly for buying funds which is what they'll be doing)

Just trying to navigate how they can pay in as they aren't parent/guardian. Any ideas?

[PhilboSE]

Cats_pyjamas said:

Just trying to navigate how they can pay in as they aren't parent/guardian. Any ideas?

Phone HL for advice on the mechanics, they’re one of the few institutions that still have good customer service.

[_Rodders_]

What's so bad about JP Morgan?

My kids have JISA's with them.

[Prohibiting]

With HL you can have up to 5 monthly direct debit instructions going into the JISA. So for example you could have a parent paying in £25, then the grandparents paying in £25.

It’s only the registered contact/parent who can add an investment instruction. That parent can phone HL and explain that they want the £25 direct debit that’s being paid in by the grandparent to be automatically invested into X. Free of charge.

[Cats_pyjamas]

Prohibiting said:

With HL you can have up to 5 monthly direct debit instructions going into the JISA. So for example you could have a parent paying in £25, then the grandparents paying in £25.

It s only the registered contact/parent who can add an investment instruction. That parent can phone HL and explain that they want the £25 direct debit that s being paid in by the grandparent to be automatically invested into X. Free of charge.

Thanks for the clarity! I'll probs open a fidelity jisa too, so any birthday moneys can be put into that, but I'll pay into that on his behalf.

[Simbu]

Freetrade have just launched a JISA in the last couple of weeks and is available on their free tier.

I've set up two for my kids, was very easy!

[C69]

Cats_pyjamas said:

I have HL for my lad. But the grandparents want to pay in a regular amount, I'm looking at fidelity so he has a separate pot. Both are zero fees. (Certainly for buying funds which is what they'll be doing)

Just trying to navigate how they can pay in as they aren't parent/guardian. Any ideas?

If you mean your son will end up with a S&S JISA with HL (funded by you) and another S&S JISA with Fidelity (funded by the grandparents), then I'm pretty sure that that won't be allowed.

Unless the rules have recently changed, a child can have two JISAs, but only if one is a Cash JISA and the other is a S&S JISA.

[Prohibiting]

You can’t have two stocks & shares Junior ISAs.

[VR99]

I use Fidelity (SIPP,S&SISA and JISA) and very happy with them. JISA invested in a single Global equity fund to keep it simple. Just a shame I don't apply the same approach to my own investments!

[Matt p]

Moneybox - JISA Fidelity Index World Fund P ACC - 0.12%

Edit to add - using the app is a piece of cake, only slight annoyance is the time it takes from hitting the buy now to it actually clearing and adding on your account.

Edited by Matt p on Thursday 9th April 20:24

[Cats_pyjamas]

Prohibiting said:

You can t have two stocks & shares Junior ISAs.

Roger that! That scuppers the plan for him to have two accounts then!

Atleast he's with HL and it sounds they do accommodate regular payments from other accounts.

Thanks all (sorry for the digression).

[macron]

Thanks all, really useful input.

_Rodders_ said:

What's so bad about JP Morgan?

My kids have JISA's with them.

They've been merrily taking 1.5% of an utterly opaque fund, likely thanks to how they inherited it, but it's taking the piss. The choice of funds withe whatever they've decided to transfer it into also does not seem to be the same as a JISA you'd take out. So they're taking the piss. There used to be something called "treating customers fairly". I have a complaint open because this is not that. I suspect a direct account opening would address that, thus your experience may be different.