Gohenry Launches Junior ISA To Help Parents Invest In Their Children’s Future
GoHenry, the children’s prepaid debit card and financial education app, today announced the launch of its Stocks and Shares Junior ISA for parents of kids aged 6-15. Taking less than one minute to set up, parents can begin by investing as little as £1 up to £9,000 per tax year on their child’s behalf through monthly contributions or one-off payments.
Parents can transfer funds from any existing Junior ISA or Child Trust Fund, enabling them to manage their child’s finances all in one place as part of their GoHenry membership. Once invested, the money belongs to the child and cannot be withdrawn until they are 18 years old.
GoHenry Chief Product Officer, Richard Jones, comments: “We’re all about setting children up for financial success at every life stage. With the introduction of our Junior ISA, we’re making it as easy and simple as possible for parents to start investing in their child’s future. By enabling parents to open, contribute to, and monitor the progress of their Junior ISA via our GoHenry app, we’re providing one easy-to-view resource for them to track their children’s day-to-day finances alongside their long-term investments.”
With the launch of the Junior ISA, GoHenry is simplifying and demystifying investment products, while making money management for kids, teens and parents an intuitive experience. This includes a calculator to enable parents to see how much their child’s Junior ISA might be worth when they reach 18. This sits separately to other features in the GoHenry app like gamified financial education lessons, Money Missions, which help kids learn about saving, compound interest and more.
GoHenry has already seen high demand for its Junior ISA ahead of its full launch today, with 11,00 parents opening one during its pre-launch rollout. GoHenry Junior ISA investments are managed by Vanguard and are FSCS protected up to the value of £85,000.
Zoe Ray, mum to 8-year-old Stanley, says: “It’s so easy to invest for Stanley’s future using the GoHenry Junior ISA and I can quickly check progress via the parent app. Knowing my son is learning how to sensibly manage money with GoHenry provides peace of mind, especially looking ahead to when he’s older and has access to the Junior ISA funds.”
To celebrate the launch of GoHenry’s Junior ISA, GoHenry is offering the chance for one parent to win a contribution of up to £9,000 towards their child’s 2022/23 annual Junior ISA allowance. Terms and conditions apply.
The value of your investment can go down as well as up. Tax treatment depends on your individual circumstances and may be subject to change. Capital is at risk.
Junior ISA rules and terms and conditions apply. Investment services are provided by GoHenry Family Finance Limited, an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048).
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