What is the Best Junior Investment ISA?

Every parent wants what is best for their child. For those who are able to offer their children some financial support and security for their future, a Junior ISA (JISA) is a great way to invest in your child's future - but with so much choice in the market, what is the best Junior Investment ISA? We've rounded up five of our top picks.
Why open a JISA?
Tax year 2020/2021 has kicked off, and with it the generous new allowance for Junior ISAs is now in effect.
This tax year, parents or loved ones can put up to £9000 per year into a Junior ISA for their child - and with that in mind, many will be wanting to make the most of this allowance.
There are two types of junior ISA: Cash junior ISAs - where any interest accrued is not taxable; Stocks & Shares Junior ISAs where money is invested and no tax is payable on any capital gains or dividends received. This article focuses on parents who are considering opening a junior stocks and shares ISA - also known as a junior investment ISA.
What do I need to consider before looking at Junior Investment ISA options?
There are a few things you should consider when you are looking at different platforms and account options. Sit down and examine your (and potentially, your child's) needs and wants from this account.
Some examples of things to consider are:
- Cost
- Functionality
- Tax-wrapper offers
- Investment Choice
Our Top Picks for a Junior Investment ISA
ii offer a fixed fee service so if you already have an account with them you can add a JISA for no extra fee. If ethical investment is important to you ii have a good list of investment options. Currently ii offer a free credit for share dealing within a JISA.
One of the largest platform providers in the UK with £85 billion under management. Not the cheapest with an annual management charge of 0.45% but have a large choice of funds (3,000+), including access to ETFs, investment Trusts. There is online and mobile app share dealing at £5.95 per deal for UK and overseas shares.If you are short of inspiration you access their investment ideas for 2020 for your child's JISA.
Shepherd's Friendly were established in 1826 and are a UK based friendly society and mutual insurer. You can invest from £10 per month (or with a £100 deposit). Your child's money is invested on their behalf by a fund manager who will largely focus on stocks and shares. They have a goal of achieving high levels of growth over a long period of time, allowing your child to reap the benefits of the JISA when they are of age.