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Charles Stanley Direct launches 'clean priced' Junior ISA
by Danielle Levy on Oct 23, 2013 at 10:16
Charles Stanley Direct is breaking into the Junior Individual Savings Accounts (ISA) market with the launch of a clean priced offering.
The Charles Stanley Direct Junior Isa offers clients over 1,800 clean priced funds, alongside 400 investment trusts to choose, which will incur a £10 dealing fee, alongside a 0.25% annual platform fee, with a minimum lump sum investment of £500 and minimum monthly investment of £50.
The company was keen to highlight recent HMRC statistics which show that £557 million has been invested in Junior Individual Savings Accounts since launch in November 2011. This has been invested in a mix of cash and stocks and shares ISAs.
Charles Stanley Direct also claims that having access to commission-free funds, assuming a 0.25% annual platform fee, means that fund investing is approximately 0.5% per year cheaper than bundled funds.
Ben Yearsley (pictured), head of investment research at Charles Stanley Direct commented: 'The advent of clean priced finds has changed the investment landscape, and made investing far cheaper.
'Indeed, each new born child today could be over £6,000 better off due to clean pricing at age 18. Unfortunately not every provider has yet to embrace the new world.'
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