UK Broking Account For Children

I want to set up accounts for my kids for long term investment on the London Stock Exchange (probably an index ETF). This will likely take the form of initial investment of approx 2000 Ponds and a yearly addition of 500, so the accounts will only be used for one or two trade a year. The children are very young so I will need to control the accounts, but the accounts need to be in their names. Any advice on choice of brokers and how to keep account admin costs/trading costs low? Thanks.

Reply to
Adam
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I would advise a standard Comdirect dealing account

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for each of your children Their dealing charge is 12.50/trade and there are no "inactivity fees" or annual charge of any sort.

These accounts can be operated online or via telephone

Comdirect actually also offer Commission Free Purchases on ETFs - however, this may only apply if you have an ISA account with them (which your children can't have as they are under 18) - you will have to check with Comdirect if the offer extends to standard dealing accounts or not.

In addition, if you/your children are referred to Comdirect by an existing member, you will get 50 per account as a "welcoming gift" (the referee gets the same) - which sounds like it would pay for 3/4 years worth of dealing fees for each of your childrens accounts.

This, if you would like me to refer you to Comdirect, just send me an email with your/your childrens names and an e-mail address (ideally unique for each person!) so that Comdirect can contact you.

Regards Sunil

Reply to
Sunil Sood

I want to set up accounts for my kids for long term investment on the London Stock Exchange (probably an index ETF). This will likely take the form of initial investment of approx 2000 Ponds and a yearly addition of 500, so the accounts will only be used for one or two trade a year. The children are very young so I will need to control the accounts, but the accounts need to be in their names. Any advice on choice of brokers and how to keep account admin costs/trading costs low? Thanks.

Reply to
Adam

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