GIA minimum age? JISA?


#1

I’d like to start Freetrade accounts for the kids. If their personalities are anything to go by, one would be a cautious passive indexer, the other a return-seeking YOLOer.

Will the GIA have a minimum age? Will a JISA happen? And if so, on same timeframe as ISA?


Feature Requests (Open Wiki) :bulb:
(Vladislav Kozub) #2

You must be 18 years old to have a General Investment Account.

ISA is one of the things that are “to be launched soon after the overall launch” but JISA has never been mentioned before. I would assume it is to be after the SIPP due to not an excessive demand.


(Rob Sexton) #3

As Vlad says, it’ll be 18 for a GIA.

In terms of JISAs, it is not something we have heard overwhelming demand for, and so while it is on our roadmap we don’t see it as a priority at the moment. Although as with anything it would be great to hear from our community on this, and if it has the demand we can look to accelerate it.

ISAs on the other hand are right at the top of our list. We expect to enable them in our backend in a matter of weeks, and @JamesStorer is hard at work on the UX for it. We want to make sure it is intuitive to use, and in particular that we make it easy to switch between accounts, buy into the correct account and see useful information in aggregate or by account. More to come on this soon!


(Kenny) #4

I would love to see JISAs on the list.

If you understand investing you probably think that a S&S JISA is the best option in terms of return potential. If you enjoy investing then a JISA adds to the fun, plus it creates a great lesson in investing to be taught at some stage. All of above probably applies to Freetraders that have or plan to have kids (high proportion?). That is to say that If I have an ISA with Freetrade and I have kids I will probably also want JISAs - a 1 stop shop would be the preference rather than send the business elsewhere.

I can also imagine many people’s initial interest in investment being driven by there want to invest for their children, so it helps capture those individuals.

The summary is, I think Freetrade shouldn’t not offer JISAs at some stage. I was personally holding off setting up elsewhere to see if Freetrade would offer a JISA (more of a hope than an expectation) so interested in the discussion.


(Vladislav Kozub) #5

Would be nice to have a Google Forms poll where people could express their demand. If you ask about GIA/ISA/SIPP/JISA, you will see a rough proportionate split I guess.


(Rob Sexton) #6

Once we release the open roadmap you’ll be able to vote/indicate interest there - similar to the Monzo roadmap which you may have seen.


(Danny Jeremiah) #7

Just another +1 for JISAs, and bonus points if you can give us something like monzo.me so grandparents etc can pay into it :blush:


Feature Requests (Open Wiki) :bulb:
#8

Hello

My son has some dosh stashed away in a junior ISA and i would like to continue saving for him, so a couple of questions (if they have already been answered then please point me correctly):

  • When will Freetrade do Junior ISA’s?
  • Will i need to set up a separate account for my son and if so how will i manage this? Will i need two apps on my phone (is that even possible?) or will i see his account in my app?
  • Can i set up a normal Freetrade account now on behalf of my son (not Junior ISA) and manage it myself?
  • He is 5, can you suggest any presents Santa should bring him this Christmas?

Thanks


Transparent product roadmap
(Danny Jeremiah) #9

I’m really hoping we get these somewhere down the line. I’ve got a JISA for both of my daughters with HL and they both just have the one VLS fund sitting in them, for which HL take their 0.45% a year! I’d like to see it managed through my own account, perhaps with my wife having access through hers too.

It would also be nice to allow grandparents etc to contribute in some straightforward way for birthdays & Christmas.

I’m guessing the answer to your third question is ‘no’, given you need a NI number to register.

On your last question, my five-year-old is going through a real Paw Patrol phase at the moment, have you heard of it? :stuck_out_tongue:. Failing that, maybe some more units of a low-cost global equity tracker? He’ll love you for that in 13yrs time!

(p.s. I realise we’re now massively off-topic, maybe split these into another thread @alex.s if there isn’t already one for JISAs?)


(Emma) #10

Do we need it further split for Christmas recommendations?

+1 for Paw Patrol :yum:


#11

He was into paw patrol, but now it’s pokemon and transformers.

I actually had his money in an aim share, until I realised I had stopped investing and was instead gambling with his money - so now I have stuck it all in a tracker etf. (Knowing my luck the aim gamble will now fly!!)


Transparent product roadmap
(Alex Sherwood) #12

We don’t have a timescale for JISAs yet, we’re focused on things like launching ISAs & US stocks first. We’ll share more details when we publish our roadmap.

As long as the account that you manage is in your name & funded from your bank account that’s ok. I’m sure you wouldn’t be the only person who invests for the benefit of their family :slight_smile:

I hear Freetrade socks are in fashion right now :wink:


(Emma) #13

Sorry Alex, just need some clarification on that second point. So does that mean I can have 2 Freetrade accounts (eventually) as long as they’re linked to my bank account?


(Alex Sherwood) #14

Thanks for checking - it’s one account per person.