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Shares / TFSA's and Minors
« on: May 04, 2015, 06:52:53 pm »
Help! I've always invested passively on behalf of my kids (aged 2 and 5) - my current investments are very heavily weighted towards Satrix 40 (via the Satrix/Aos platform). I'm now looking at utilizing the30k a year tax free portion to maximize (eventual) returns. Problem is Satrix won't let me open a TFSA account without the children having banking accounts in there own names - something that I've never bothered to do. If i can avoid it, i'd rather not go through the cost and hassle of opening separate bank accounts for each of them.
As such,
1) can anyone recommend any TFSA provider that offers a TFSA for minor children, without them requiring personal bank accounts in the minor's name. (perhaps Easy Equities?)
or alternately
2) any recommendations or suggestions on opening up a cheap savings account for the kids. Perhaps linked to a investment type account (Perhaps standard Bank?).
Any suggustions would be appreciated.
As such,
1) can anyone recommend any TFSA provider that offers a TFSA for minor children, without them requiring personal bank accounts in the minor's name. (perhaps Easy Equities?)
or alternately
2) any recommendations or suggestions on opening up a cheap savings account for the kids. Perhaps linked to a investment type account (Perhaps standard Bank?).
Any suggustions would be appreciated.