Social investment app tickr has launched the ‘world’s first’ Junior Impact Stocks and Shares ISA (JISA).
The new JISA enables parents to invest in their children’s financial future, tax-free, whilst backing companies that are helping to build a better world.
Parents can choose to put their cash into companies from three separate themes – climate change, equality and disruptive technology – or a combination of all three, at a risk level they feel comfortable with and from just £5.
tickr co-founder Tom McGillycuddy said: “Making sure a child is prepared for adult life as they grow is a challenge many parents face.
“Having money tucked safely away in an investment account growing as their children do, can give parents one less thing to worry about. Building savings for your children can be a lot easier than you think; just a small amount deposited every month can make a big difference over the long-term.”
tickr is the first app solely focused on impact investing, where investors make a positive impact on the world with their money.
Former Barclays analysts McGillycuddy and Matt Latham launched the platform in January 2019 with the aim of making impact investing accessible to everyone, and have since attracted more than £3 million in funding. It started with just a handful of friends and family signed up, and now has ‘tens of thousands’ of customers across the UK investing an average of £150 per month.
McGillycuddy says parents investing £100 in the new JISA every month, or a total of £21,600 deposited over 18 years, would see a potential return of £21,723. This is based on a seven per cent annual return on investment, excluding fees.
“Managing money well is a skill for life that helps give us the freedom to do what we choose,” he said. “We know that money habits are formed from a very young age, and once established, are very hard to change.
“Opening a JISA can help demonstrate the benefits of saving and investing, and encourage children to take an interest in looking after their money as they get older.”
The firm is a certified BCorp, a firm with a positive social and environmental performance, public transparency, and legal accountability.
tickr selects global stocks and shares, bonds and cash across the financial markets to ensure that investors’ money is going into the top companies making an impact in the world. For every referral it receives from an existing investor, it plants a tree through One Tree Planted.