Where can I find a new home for my grandchildren’s savings?

18 September 2019


Can you suggest a similar children’s savings plan to the plan Baillie Gifford has offered? I have investments for my three grandchildren with Baillie Gifford, which are being discontinued.

I have been given the option to transfer to Hargreaves Lansdown, but l am not happy with its timetable for reinvestment of the funds.



Before providing you with an alternative for your grandchildren’s savings plans, it is worth pointing out that the Hargreaves Landsdown offering is competitively priced, and that Hargreaves Lansdown has also confirmed that it will maintain Baillie Gifford’s low charging structure for the next three years.

In addition, there are lots more funds to choose from in the Hargreaves Lansdown stable than there were with Bailie Gifford. So, in my opinion, Baillie Gifford is not offering a terrible solution to its investors with children’s savings plans. Having said that, you will also find a lot of choice and flexibility via other platforms.

I cannot be sure from your question how these savings plans have been set up, but you may wish to consider using each grandchild’s Junior Isa (Jisa) allowance.

To do so, you will need to liaise with the children’s parents to get the Jisas set up, but once they are up and running you can save as little as £25 a month and top up with lump sums as and when you like until the £4,368 annual Jisa allowance has been reached – and with no restrictions on which investments you can hold within them.

Hargreaves Lansdown charges a 0.25% custody fee and dealing fees are £1.50 for funds and £9.95 for investment trusts and equities.

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