I was hoping for a JISA with FreeTrade (currently with HL). However, I’ve just received an email stating that HL have removed platform and trading fees for JISA.
Having heard this I am more likely to stay with HL regardless of whether FreeTrade release a JISA product.
I have a sipp with freetrade so still get somevalue out of paying. Was holding my daughters jisa in another account until now moving it to HL
Annoyed about this but feel Freetrade kind of deserve this from their pace of development and attitude toward the JISA. JISA should have been a no brainer for Freetrade to develop: 1) it’s one of the most highly requested features and 2) it would have created a solid increase in AUM, firstly from JISA assets and then a movement of parent assets from the platforms that charge. With the HL news today, opportunity of it for Freetrade is much smaller.
Honestly believe a jisa was required more than a sipp tbh. Would like to see how many sipp members they have
If they communicated and gave me some assurance and even a timeline id be happy but its gone all quiet
If you have a child born this year, then they will be old enough to start their own SIPP by the time Freetrade launch a JISA.
In hindsight it could be a good move, would anyone now pay more to have their JISA with Freetrade when its now free at HL?
AUM doesn’t necessarily mean revenue for Freetrade.
Flip the question the other way, why are HL now offering free JISA and a reduced LISA? Their customer base is ageing and they are now threatened by companies such as Freetrade, they are having to fight back.
Id happily pay for it. The conveniance of it beinb on one app. Its worth the price if you have a sipp so id pay another 2 or 3 pound ontop of what im paying for a jisa
My daughter will be 5 in august might aswell start a sipp for her
The way we are going
I thought they did? They’d like to do it but it’s not on the roadmap so there’s no updates, i dont think they’ve ever committed to actually implementing the account type?
I get why they might not have it already, its not just a case or putting a JISA label on an account type, they need to support all the management behind them.
HL on the other hand don’t need the money from JISA, they need the conversion to lifetime customers. a free JISA keeps rich customers under their management, and potentially converts those children into HL customers in the future.
in that sense, Freetrade is missing out pulling in families under their management long term. But do you want tax reporting… or a JISA? i expect is the kind of discission going on.
HL is actually attracting younger customers if i remember right. I beleive i read that their average age is going dowm, but the new brokers should have the same effect as the new banks. the old brokers will eventually just dump money into their products and fly past the new brokers at speed if they’re not careful.
Not an answer to your question. but HL has (as of last year) 160,000 JISA accounts with £1.4 billion AUA
Anyone here know how long the transfer takes to hl sent over today
Not sure but I think it could be like most Pension Transfer which take a few weeks
HL have removed all charges on my JISA. Good marketing as it ensures I’ll be keeping the cash there for years.
Ive moved my daughter over this week
This is very canny move by HL.
I’ve been waiting for a JISA from :freetrade: for years - I currently have 2 with Wealthify that I want to transfer to FT and did hope these JISAs would be with :freetrade: before the kids started managing their own accounts. 1 of my kids will be 18 in 3 years so I will transfer to HL instead of waiting.
Can anyone with a HL JISA explain this passage from their JISA charges page (under Other charges > Direct Debit into investments):
For FTSE 350 shares and selected investment trusts and exchange-traded funds (ETFs) there’s a charge of £1.50 per stock per month.
Sounds like if I want to hold a Vangard ETF, I would pay £1.50 per month?
That sounds like the cost for the use of their regular investing options. I wonder if it’s an oversight or it’s not able to charge nothing.
But if you add cash then invest manually the trade is £0.
Note it’s not £1.50 a month to hold those stocks, it’s £1.50 per trade if using their regular investing option
Could be an oversight in updating the T&Cs. From their email :
The only charges you’ll pay are those linked to your investment choice, for example government stamp duty when you buy shares, or ongoing fund manager fees. Or when you choose to buy or sell shares by telephone
Thanks for clearing that up 
Does anyone know how long it take for HL JISA transfer