[angiew1]

Hi,

I have been reading through every flyer and letter that I have had through the door from various companies who are touting for business to invest the CTF cheque.

I just wondered what other peoples views are. I am trying to make sure we place ours with a company that invests morally and in things we believe in but I'm finding it hard to get the details.

Has anyone else done any research?

Love Angexxxxxxxxxx

 

[Kas]

Hi Ange,
Good thread.  I too have been ploughing through loads of litrature and finally popped into one of our local Building society/banks on Monday only to be told that they cannot advise, only give me a pack to read, so another lot to read through.  Finding it very difficult to understand everything on offer without being given proper advice.
Karen X

 

[Clare_S]

Ange

Try the Co-op, I believe they are ethical investors and they talk about a fund on their website.

Clare

 

[julesuk]

Yes, great thread to start.

I too have been looking through tons of leaflets etc..... haven't a clue who or what to go with!!! It's a total mindfield!!!

Have been in touch with our friend who is an Independant Financial Advisor, he's looking into it for us. Will let you know what he comes up with.

Love Jules xxxxxxxxxxxx

 

[Pilchardcat]

Ohhh yes please Jules

Millies voucher is currently invested on top of our mircowave until I can get round to doing something about it.

 

[Jayne]

Snap here - haven't a clue what to do with Ben's either!  Mind you I have been hanging onto it until the in laws return from Tenerife (they go for about 3-4 months each winter) as they promised to give Jack the same amount of money to invest that Ben has got as it's not fair that one has it and the other doesn't.  They will also match the top ups, which is very kind of them.  So I'm planning on investing both amounts of money in the same place - but separate accounts. 

Some of my thoughts on this though are that I was thinking of just putting it wherever best and leaving it, and not topping it up personally.  Reason being that it will belong to Jack and Ben when they are 18 and if dh and I top it up and built it into a large amount, it may be that Jack and Ben aren't responsible enough to have such a large amount of money by the time they are 18 - maybe it will be better when they are 21, or buying their first house, or something.  I know we don't like to think it, but we don't truly know with 100% certainty what our children will be like and I don't want our hard earned savings wasted on rubbish, and God forbid, drugs or something! 

So I think that dh and I will save money separately for the children to have as and when we decide, and the CTF voucher will just be invested and left, with only Government top ups added to it. 

Jayne x

 

[SueL]

Hiya

Chloe's voucher arrived this morning, so a very topical thread, thanks Ange!

I've already checked with my brother who's a Financial Adviser and he reckons go with stakeholder (as these are long term investments) and go with a firm that's "long established and reputable". Some companies have sprung up out of nowhere, others are child type companies and are now adding this type of savings to their portfolio. Basically go for a saving provider that you think will still be around in 18 years! Hope this forwarded info is useful!

If anyone comes up with a good one or a good website how about we store it in here so others can refer, it's a minefield out there!

Love Sue
xxx

FAQ's: http://news.bbc.co.uk/1/hi/business/2936101.stm

Inland Revenue site for info:http://www.childtrustfund.gov.uk/Homepage/fs/en

What to look for: http://www.childtrustfund.gov.uk/OpeningAnAccount/WhereToOpenAnAccount/fs/en?CONTENT_ID=4003490&chk=MEXLxO

Types of Account: http://www.childtrustfund.gov.uk/OpeningAnAccount/FAQ/fs/en?CONTENT_ID=4003302&chk=sqVwpf

Shopping Around: http://www.fsa.gov.uk/consumer/02_HOW/shop_around/mn_comparative_information.html

LIST OF SOME OF THE 70 PROVIDERS!
http://www.childtrustfund.gov.uk/ListOfProviders/fs/en?CONTENT_ID=4001477&chk=2FRm3N

 

[Gill]

Hmmm! I was going to read through all the bumph and see who was offering the best free gift! That's how financially astute i am! 

Like Carol, I've been putting Rebecca's Christening, Christmas and Birthday money into a savings account, MIL has set up a Baby Bond for her and I was going to invest her Family Allowance too ( but now i've kind of got used to getting it every month!  )

I'll follow this thread with interest ...

Gill x

 

[Sara M]

Hi all

Phil has been off this week with tonsillitis and has been looking into this - he has the financial brain not me!!!

He reckons that the best place, in his opinion, for us to put the money is with the Nationwide. Don't know how he came to this conclusion but he has sent off for thier pack.

I will let you know what I think of it.

Sara

 

[SueL]

Hi

mmmmmmmm I've got Nationwide saved as a shortcut going to read more another time!

Elaine - not stupid question:

Q: "Why would I open a stakeholder account for my children?
A: If you make the decision to open a stakeholder CTF account your child’s money will be invested by buying shares in companies. You can make money when those companies do well and the value of the shares goes up. When investing money for a long time, accounts that invest in shares almost always produce a better return than savings accounts. This is true for every 18-year period in the last 40 years. What all this means is that people who have invested in the stock market have in the past tended to see a better return than if they invested in “cash” accounts, although this is not necessarily a guide to future performance and the value of the account could fall.

The stakeholder CTF account is a long-term savings product and the Government requirements are that as a child’s CTF account nears maturity, funds will be ‘lifestyled’, so that assets will be moved out of stocks and shares into assets with lower risk and return profiles such as cash. This will reduce risk before maturity. Also, providers or fund managers will watch companies and will work to maximise returns invested in the stock market. It is important to remember that although investments based on shares have performed well in the past this does not mean they will do so in the future.

"

 

[KarenM]

Good thread.  I picked up leaflets to explain it in Sainsbury's and Mothercare a few weeks ago and still none the wiser.

Only had one of the girls cheque's through and its sat in the pile of important papers and bills!!

We've got our IFA coming next Wednesday, so may ask his advice.

Like most on here we've got the girls savings separate and will continue to do so.  The Building Society haven't set up their accounts for the CTF yet but we would like to try and keep their investments together so its easier to manage.

Karen x

 

[Sue MJ]

Just goes to show how confusing all this is.... so far, not one of us has sorted this out and have our voucher sitting around doing nothing!

I love this thread though, it's great to read what everyone else is making of this, especially when some of you have easy access to financial advisers.

Love,

Sue xxxx

 

[julesuk]

Just goes to show how confusing all this is.... so far, not one of us has sorted this out and have our voucher sitting around doing nothing!

Exactly Sue!!!!! The Government/Inland Revenue haven't made it easy for us understand really have they!!

Love Jules xxxx

 

[fiona_lk]

This one will make you smile (or maybe curse like I did!)

We haven't got Xander's CTF voucher yet, or should I say 'replacement' yet.

The Inland Revenue have made the worst fau par (excuse spelling if wrong) thinkable. They have sent it for Alexander WHITEHEAD which happens to be my ex-husbands surname - can you believe it, how on earth they managed to get my previous surname (wouldn't have been so bad if it was my maiden name) and transfer it onto Xander - Les was livid (as you can imagine).

Anyway, will watch this thread with interest until I can say I'm leaving it lying somewhere too!


Fi xx

 

[Vicky W]

I haven't even had a chance to look at anything yet so good thread, I will be coming in regularly to look for tips!!

Toby has  a Nationwide account already for the money he has been given and will continue to do so for anything else he gets given.  Will keep the CTF separate I think.  Not sure why DH picked nationwide but he did look at a few, but I like the idea of the stakeholder for the CTF.

Keep posting here girls!!

Lol Fiona how on earth did they manage that!

Vicky x

 

[Barbara]

Just seen this thread.

I work for a financial adviser (we are mainly pensions based) and looked as closely as I could at the literature received on this.

One thing on the stakeholder side of things - yes whilst they are stock and share based and will be switched to less volatile investments nearing maturity - check out if there are charges.  If the Child Trust Fund (ctf) stakeholder is the same as the pension stakeholder there is a 1% charge per annum (1% of the value of the fund) - the pension charge is also reviewable and if this increases which is the talk at the mo, the one on the ctf will also be reviewable.  Historically stock and shares have performed better than savings accounts but it is a risk (the ass could fall out of the market at the cruical time).

Personally I opted for a building society type investment where I knew there were no charges - it would be my luck if I invested in stocks and shares that come even the time to switch to less volatile funds, the ass would fall out of the market and the fund would depreciate heavily in value!! 

We also have a separate savings account for Josh (Halifax which was the best rate offered at the time) and it would not be my intention to top up the ctf investment if I don't have to.

Hope I haven't confused you further girls.

barbara

 

[julesuk]

Hi Barbara

Thanks for the info!

I haven't heard back from my IFA as yet, but like you I am thinking of just popping it into a high interest building society account, because at least you know that the money is safe and there are no charges. If you put it into a stakeholder account, in 18 years you could have NO money left what with being charged 1% a year too!!!!!!!!

So, I'm going to search out for the best building society account to open, I've heard that Britannia are quite good too.

Katelyn does already have a Portman Young Savers account open, this is where we put all birthday/Chrismas money etc.... but I want to keep this separate to the CTF.

Love jules xxxxxx

 

[angiew1]

Hi,

Thanks for all the input onto this thread. I am looking at bank accounts too. Obviously, now we are going to Oz, I need to review the original literature again but I'm sure there was something about moving out of the country and keeping it active here. I am so [email protected] financally. We have birthday money and chrimbo money people have given Jessica and it is sat in her money box gathering no interest apart from any £2 coins or 50p's that I put in occasionally 'cause they wont fit in my other piggy bank.

Best check out the bank and building society accounts soon before I loose the cheque completely amongst all my paper rubbish.

Love Angexxxxxxxxxxxxxxx

 

[julesuk]

Ange. Let me know what you find out about the moving out of the country business, hadn't thought about that!!

Love Jules xxxxxx

 

[~ S ~]

Hi everyone,

I too am a qualified financial adviser but currently working as a Compliance Officer. So i've been doing lots of research into this as it is something which interests me.

I don't work for this particular company but they have a produced a fact sheet on i'm guessing every CTF availble. They break it down into three sections covering plain savings accounts, stakeholder accounts and then the more risk stockmarket/equity linked accounts. The company is called Hargreaves Lansdown and their website is www.hargreaveslansdown.co.uk

The leaflet states all the charges, investment funds, contact numbers and allsorts. It really is helpful. I'm not going to say which one I have chosen as I wouldn't want to influence anyone else where investments are concerned.

Hope this helps

Shelley xxxxx