My daughter has a Junior ISA with just over £5k. Should I put it in a Stocks and Shares ISA?

My daughter has a Junior ISA with just over £5k in it. She is now 18. She is looking to put it in a Stocks and Shares ISA. Is that a good option and should she go for an all inclusive fee or not? Thanks

Hi Gurmeet,

Yes, it is a good idea to keep the money in an ISA, especially a Stocks and Shares ISA, as this is very tax efficient.

Most ISA providers will allow her to convert her Junior ISA into a normal/adult Stocks and Shares ISA at age 18.

If the existing provider does not offer this then she can set up a new Stocks and Shares ISA with whichever provider she wants, as long as they accept the transfer from the existing Junior ISA.

As it is a relatively small amount in the ISA, I would suggest she looks for a provider with as low costs as possible, either inclusive or not.

I hope that helps her!

Josh