Abrdn launches Junior Isa on platform

Abrdn launches Junior Isa on platform
Photographer: Jonne Roriz/Bloomberg

Abrdn has launched the first part of a bigger family wealth planning service to help advisers better engage with their clients’ children.

The wrap platform has started off by developing a Junior Isa (Jisa) with no platform charge until the client's child turns 18 - though investment charges still apply.

It said the new product was in response to “increasing demand from advisers” for more family wealth planning solutions that could be managed alongside their existing client investments.

The Jisa can be invested in all the funds available on the wrap platform, and clients can transfer assets into it from funds currently on the platform.

“The advisers we work with are becoming more and more interested in supporting clients in family wealth planning,” said Abrdn’s managing director of sales, Russell Bignall.

“They are telling us the engagement of all the family in financial planning has become more important as a result of the pandemic.

"The Jisa is the first step we’re taking to create a family office environment on the platform.”

Abrdn is hoping a new suite of family wealth planning products will attract more advisers to its wrap platform.

“Just as advisers build their business on the goals of their clients, we’re building our business on the ambition and demands of the advisers who choose to partner with us,” Bignall added.

“As we continue to develop our offering, we want our partnerships to deepen and to continue to grow in trust and confidence.”

In February, Abrdn turned to Schroders Personal Wealth for its new head of financial planning, Sarah Deaves, a former Coutts chief executive officer.

Deaves has been working closely with Paul Titterton, who recently joined as head of digital solutions, to look at how digital can enhance the firm’s financial planning offering.