Wealthsimple are looking for Mumsnet users to test their Junior Individual Saving Account (JISA) and the service it comes with. Selected testers will receive their first £10,000 of investments with no management fees for a year plus a £50 bonus for those who invest £500 or more over the 4 week testing period.
This test is open to:
- UK Mumsnet users with a child under the age of 18 who they would like to open a JISA for and begin investing for them
- Users who have never had an account with Wealthsimple before
Here’s what Wealthsimple have to say: “Wealthsimple is an online investment manager that combines user-friendly digital tools and personal investment advice to make smart, automated investing available to everyone. With no minimum account size and low fees, Wealthsimple makes investing simple, accessible, affordable and personalised. In less than three years, more than 100,000 clients have trusted Wealthsimple with their savings, with the company currently managing over £1.8billion assets globally.”
Please read the below information very carefully:
- Wealthsimple offers Junior Individual Saving Accounts (JISA) that allow you to invest up to £4,260 per year for your child(ren)'s future. A JISA can hold investments and cash and lets investment gains and income grow tax free. They were launched by the government to help parents and guardians save for their child's further education or simply to give them a helping hand when they leave home.
- There is no minimum amount you have to invest. Wealthsimple have offered a £50 bonus to those who invest £500 or more over the 4 week period of testing, however please note you are under no obligation to do this.
- It's important to note that when investing in a JISA, you cannot withdraw the money. Your child can access it from the age of 16 and withdraw it from the age of 18. HOWEVER if you do not wish to continue using Wealthsimple after the year of no management fees, you can transfer the money to another JISA in a different financial institution.
- If you do wish to continue using your Wealthsimple JISA after the year of no management fees, please note the pricing is as follows: £0 - £100k you pay 0.7%. For more information please click here.
- Wealthsimple has a long-term investment strategy so we encourage all testers to invest with at least a 3-5 year time horizon in mind.
- Although you will get no management fees for a year, the Mumsnet test itself will last 1 month, after that you will be required to leave feedback on a thread on Mumsnet as well as complete a short survey about your experience up to that point.
- When investing your capital is at risk so please read these risk warnings first and only apply if you are happy and understand these risks.
If you would like to test out Wealthsimple’s JISA account, please sign up here
All selected testers will be required to test out the service, leave feedback on both a thread on Mumsnet and complete a short survey. All testers do what is required will be entered into a prize draw where three MNer’s will win a £100 voucher of their choice (from a list).
Thanks and good luck
MNHQ
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