UK Robo-advisors who offer Junior ISAs

UK Robo-advisors Who Offer a Junior ISA


While most UK robo-advisors now offer an adult Stocks and Shares ISA as a tax-efficient alternative to their General Investment accounts, many still do not offer a Junior ISA product.

In fact, if we look at 4 of the most recognisable robo-advisors in the UK in Nutmeg, Moneyfarm, Scalable Capital and Wealthsimple, only one of them offer a Junior ISA product, but which one is it?

Which UK Robo-advisor Offers a Junior ISA?

Of the 4 robo-advisors mentioned above, only Wealthsimple* currently offer a Junior ISA product. Wealthsimple are a big global player in robo-advice who have recently started offering their services to UK investors.

Even better news is that we have managed to secure a special deal with the company for new investors who sign up using one of the links in this post. This deal will allow you to get your first £5000 of investments managed free for the first year. This will give you a chance to try Wealthsimple for free to see how you like their service. The offer also applies to other accounts Wealthsimple offer too.

What Do Robo-advisors Do?

If you’ve found your way to this post via a search engine then there’s a good chance that you already have some idea of what robo-advisors do and how they work. If you’ve stumbled across this post while browsing our blog, however, then let me explain how robo-advisors work.

Robo-advisors use the latest investing technology to invest your cash in a portfolio that is tailored to your own risk profile. They also invest into low cost funds and ETFs to keep costs down. This means they can offer investment management services for a fraction of the cost of a typical wealth manager.

Example of Wealthsimple funds for a balanced portfolio

Once you’ve signed up with a robo-advisor, you will answer a few simple questions to establish your attitude to risk. After this, you can then leave them to do all of the hard work on your behalf. This includes regular rebalancing of your portfolio when needed and they’ll also reinvest your dividends for you too.

With most UK robo-advisors, you can expect to pay a fee of around 0.75% per annum. On top of this you will pay around 0.25% in fees charged by the funds they invest your money into. As we mentioned earlier, though, Money Bulldog readers can get their first £5000 of investments managed free for a year when you open an account with Wealthsimple* via a link in this post.

Can I Pick My Own Shares?

While hands-off investing via a robo-advisor is great for some, it may not be right for all. This is especially true for those who want to choose specific shares to invest in via a Junior ISA.

If you are looking for a Junior ISA which will allow you to invest in individual shares or funds that you have chosen yourself, then you may want to look at the Hargreaves Lansdown Junior ISA* instead.

How Much Can You Invest in a Junior ISA?

Here’s a little reminder as to how much you can subscribe into a Junior ISA. At the time of writing you can invest up to £4,260 in a Junior ISA in each tax year.

Don’t Forget Our Free for a Year Offer!

Hopefully you now have a better idea whether a robo-advisor is the right choice for your child’s Junior ISA. While there aren’t many robo-advisors offering Junior ISAs at present, it’s good to know that you do have the option with Wealthsimple. Don’t forget to get your first year for free* by signing up via a link in this post.

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