Interactive Investor

Killik & Co named as new provider for Share Centre Child Trust Fund accounts

30th July 2021 11:52

Jemma Jackson from interactive investor

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interactive investor to transfer non-stakeholder CTF accounts to firm.

interactive investor, the UK’s second-largest direct-to-consumer investment platform and number one flat-fee provider, is to transfer the non-stakeholder Child Trust Fund (CTF) accounts previously held on The Share Centre platform to Killik & Co for an undisclosed sum.

The transfer, effective from 11 September 2021, will enable interactive investor, which does not offer CTFs, to focus on further enhancing its core offerings of trading accounts, SIPPs, ISAs and Junior ISAs, original content and impartial investment ideas, delivered through a flat-fee, best-in-class technology platform.

The move follows the transfer of stakeholder CTFs from The Share Centre to One Family, in May 2021.

Richard Wilson, CEO, interactive investor, says:We have taken care to find a good home for these non-stakeholder CTF accounts, but those seeking an alternative provider can do so without penalty.

“We will continue to focus on our core business – offering general investment accounts, pensions, ISAs and Junior ISAs, and investing in quality content and investment ideas to help more and more customers take direct control of their financial future.”

Georgie Killik, Partner, Innovation, Killik & Co, says: “The Killik & Co business was originally founded on the core principle that the power of investing should be accessible to all.  Over 30 years later, we are proud to have launched our save and invest app Silo, which is the latest iteration of this principle within our suite of services.  Silo offers the flexibility of app-based investing, coupled with the renowned expertise of the Killik & Co team. We are delighted to welcome all these new clients onto Silo and hope to support them in all areas of their financial future.”

Alternative options

For those wishing to make new arrangements, Share Centre would need to receive instructions from the new provider by 27 August 2021:

  • For anyone wishing to take their Share Centre non-stakeholder CTF account elsewhere. A list of providers is available at gov.uk; or
  • For anyone wishing to switch to a Junior ISA and move to interactive investor. If their share account or ISA has moved to ii recently, they may prefer to be in a Junior ISA, and then we’ll move this to ii later in the year.
  • Alternatively, accounts could be transferred into a Junior ISA administered by an alternative provider. Contact a new manager with your details and they'll do the rest.

Killik & Co is an award-winning investment house, with over £8.1 billion AUM and three decades’ experience helping its 20,000 clients to save, plan and invest.

The Share Centre’s CTF customers can visit www.share.com/Killik for more information on how this decision may affect them.

 

Notes to editors

Killik & Co’s Terms and Conditions will apply from 11 September 2021.

To view the options on the Killik & Co site, see here: https://www.killik.com/thesharecentre/.

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

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