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Kelleyja71's review of Family Investments Child Trust Fund

★★★★★

“Great”

Written on: 08/10/2015 by Kelleyja71 (1 review written)

I have had two of my child's CTFs with Family Investments, one for almost ten years, and I am more than happy with the service, and growth, they have provided. Although the markets have obviously had their ups and downs (2008-2010 being the main "down" points) on average the fund my child has been invested in has growth well.

In fact, after charges, over the last five years, the fund has grown by more than 5% per year - I'm do glad I didn't choose an interest account with Nationwide as I would have struggled to get half of that. This is a very long-term account and in my view, the only place to put this money is in a stocks and shares account.

I have looked into transferring into a Junior ISA, but to be honest, I don't see the value in it. These big fund managers tend to have horribly complex charging structures and thousands of funds...also they seem to have quite high minimum premiums. One thing I didn't like was that, although it was free to transfer in (of course), they would charge me to transfer out to another Junior ISA - effectively tying me in!! This was Hargreaves Lansdowne so may not be true of all fund supermarkets.

Family also does a Junior ISA but can't really tell the difference between their CTF and Junior ISA so no point transferring in my opinion.

I like the flexibility of the Family product and their online account management is a friendly and useful tool to show my eldest child how his investment is growing, I can also view the current value and statements, change my direct debits and pay by debit card online too.

Fortunately I haven't needed to call them much, but when I have, their guys on the phones appear to be very helpful and efficient.

Don't understand why they have got such poor scores from people - although, looking at it, a lot of the bad reviews seem to be from people who either have bad information or are for some reason surprised when investment products lose value when the markets fall. Investments are a long-term product and there is no point in judging the outcome from one year to the next - I would lay money on the fact that over the 18 years the investment product I have will beat the trousers off of interest rate equivalents.

A happy customer.

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