There are many ways to do this but it can mean losing control of the savings that are put aside as the investment often has to be in the intended recipients name or part of a complicated Trust arrangement. Using a Designated Account may be the answer.
What you get:
- Complete control of the investment at all times
- Invest from a lump sum of £500 or as little as £20 per month (£10 per month per fund)
- No obligation to hand over the investment to the intended recipient
- Because you 'own' the investment, income and capital gains tax is applied as if it was your own money (which technically it is!)
- Top up or cash in the investment at any time with no requirement to notify the designated account holder
- Switch between funds free of charge
- Quarterly reports and a designated team to assist with your account
- Online access to your account at all times
Risks to be aware of
- Savings are invested in the stock market and its value will fall as well as rise
- Any income generated is variable and not guaranteed
- You could get back less than you invested
What else do I need to know?
Charles Stanley Investment Choices offer clients two investment platform options. The first is via our in-house platform of which more details can be found here. The second option is via the Aegon Platform. To find out more about Aegon please click here. If you require further information, send us an email or call, and we'll be happy to help
How much does it cost?
Charles Stanley Investment Choices Platform
- Platform fee of 0.55% per annum up to a valuation of £500K; 0.45% between £500K and £1m; 0.35% for £1m+
- Typical Total Ongoing Charges Figure (TOC) of 1.03% per annum. Our costs and charges information document can be found here and should be read before you invest
- Zero platform charge for Junior ISA accounts
- Fees payable from the Cash Account
A full breakdown of our in-house service charges can be found here.
What do I do next?
- Decide on the funds you wish to invest into. For assistance with your fund selection, consult our latest Investment Choices magazine or contact us and we will be happy to help
- Request an application form by emailing us using the "Make an Enquiry" box opposite or call us on 01482 861455
- If you want to transfer an existing ISA from elsewhere (either Cash or Stocks & Shares), contact us to discuss your options.