British asset manager abrdn has introduced a Junior ISA (JISA) to its suite of family wealth planning offerings on the Wrap platform.
The new offering is available to Wrap customers who are the parent or guardians of an eligible child.
abrdn said that the new JISA was developed to cater to the growing demand from advisers for new family wealth planning solutions that can be managed alongside their current client investments.
JISA will have a 0% platform charge until the child turns 18 years old while investment charges may still apply.
The JISA will have access to the full open architecture suite of funds currently available to Wrap users. It will also allow accepting transfers of funds currently on the platform.
The firm also developed a Junior SIPP as part of the family wealth planning solution.
abrdn Adviser Sales managing director Russell Bignall said: “The JISA is the first step we’re taking to create a family office environment on the 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. As we continue to develop our offering, we want our partnerships to deepen and to continue to grow in trust and confidence.”
abrdn Adviser CEO Noel Butwell said that the availability of the JISA on Wrap is a “great addition” to the firm’s suite of tax-efficient products.
“We are committed to continuing to support advisers with technology that offers them effective solutions in a way that enables efficiency coupled with personalised experiences to their clients.”