The information provided in this article was accurate at the time of publishing and should be read in the context of the date it was published. Views in this article are those of the author alone and do not necessarily represent the view of Scottish Friendly.
Have you seen some of the advertising that’s going on for Father’s Day? At the risk of sounding like Victor Meldrew: “I don’t believe it!”
We’re not talking about a furry dice for dad to put in his car or a pair of shorts to wear at the beach on this summer’s family holiday. We’re talking about three hundred and ninety nine pounds for an I-Pad!
What children have the money for such a gift? Or more like it, what mum has that kind of money at this time of year, because let’s face it, that’s who the advertising is aimed at!
I have to confess, some of my indignation above is mock. That’s because Scottish Friendly also has a current promotion for Father’s Day and, says he sheepishly; it’s also really aimed more at mum that it is Junior!
Our intentions are good, though, for our promotion is aimed at getting parents to get round to putting that investment plan in place for their children that they’ve been promising they’d get round to for ages.
Being a parent is generally always about putting the kids first and even on Father’s Day, the gift to dad in Scottish Friendly’s promotion is knowing that an investment plan for his child or children has been set up.
The investment that Scottish Friendly is promoting is its My Select (Junior ISA) that can be opened for as little as £10 a month, a lump sum of £50 or a combination of both – very affordable amounts and not as eye-popping as the cost of an I-Pad!
But a present for dad on Father’s Day is not entirely forgotten about! To encourage parents to open an account for their child, for every My Select (Junior ISA) opened in the run up to Father’s Day and then up to 30th June, the parent or guardian opening up the investment will receive that quintessential Father’s Day gift – a pair of “World’s Greatest Dad” socks – for the child to present to Dad! What’s more, once the investment has been set up, the investor will receive a £50 gift card which can be used at over 70 national retailers.
For fathers, knowing that their child will have a financial helping hand waiting for them is a Father’s Day gift that will last a lifetime!
The value of the investment can go down as well as up and the child could get back less than has been paid in. Tax treatment depends on your individual circumstances. Tax law may change in the future.
No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a savings or investment plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.