Parents can now invest in their children’s future whilst contributing towards building a better world
tickr, an app built for the next generation of investors to make money whilst having a positive effect on the planet, is today launching the world’s first Junior Impact Stocks and Shares ISA (JISA).
Parents can now invest in their children’s future – tax free – and help prepare them for adult life whilst contributing towards building a better world by the time they get the money.
Young people face four major financial challenges as they reach adulthood: paying their rent, servicing their student debt, saving for a deposit on a property, and simply managing their day-to-day financial essentials. Investing just a small amount each month when they’re young can develop into some serious cash for when the children grow up.
Tom McGillycuddy, co-founder of tickr, 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.
“We’re offering JISAs to help out a little, and give children the financial freedom they need to thrive in adult life.”
Rent is at an all-time high, student fees can leave kids graduating university with tens of thousands of pounds in debt and deposits for first-time home buyers – on average – are around £32,840. Children could do with a helping hand. Investing just £100 every month for a child may leave them with a balance worth £43,423, on £21,600 deposited over 18 years – a potential return of +£21,723.*
tickr are also keen to help parents educate their children on the importance of money. McGillycuddy added:
“Managing money well is a skill for life that helps give us the freedom to do what we choose. 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. Our JISA can help parents give their kids the freedom they need to make the right choices in their 20s and beyond.”
tickr – a certified BCorp business which has received more than £3m in funding to date – is the first app solely focused on impact investing, where users get to invest for their future in a way that enhances the planet’s collective future. Tom and his co-founder, Matt Latham, built the platform after stints at Barclay’s and Wellington Management to make impact investing as easy as possible for everyone.
The company allows people to put their money into specific companies spanning four separate themes: Climate Change, Equality, Disruptive Tech and Combination (a mix of the three). The tickr team has specifically selected global stocks and shares, bonds and cash across the market to ensure that investors’ money is going into the top companies making an impact in the world.
tickr also works with OneTreePlanted.org, and together they plant a tree for every referral it receives from a user.