7IM Junior ISA (JISA)

Clients with a 7IM account can open a Junior ISA (JISA) and invest for their children using the child’s £9,000 JISA allowance. If the parent account does not have a 7IM individual account, you can open one quickly and easily using our Online Application process.

New clients

Existing clients

Important reminder

JISA allowance for tax year 2023-24 is £9,000

New clients

Opening

Once the parent has opened a 7IM individual investment account, they can then complete and sign the 7IM JISA application form, returning the form to postroom@7im.co.uk.

Application form

Funding

Clients can fund a JISA by sending us cash, via bank transfer or cheque as per the payment details below, or by transferring existing JISAs or CTFs to us using our JISA transfer form. All new cash will need to be deposited into the parent’s individual investment account first and will then need to be subscribed into the ISA online by you, using either our bed & ISA tool or Cash Movement tool (see below for more about these). Regular contributions are not currently available into a 7IM JISA.

JISA Account Transfer Form

Withdrawals

Withdrawals cannot be made from a JISA. Once the child turns 18, the JISA will automatically be converted into a normal ISA at which point withdrawals can be taken.

Adviser fees

Ongoing adviser fees can be taken from a JISA and can be on a percentage or fixed basis. Alternatively, parents can choose to have the fees paid from their own individual investment account to maximise the value held in the child’s JISA wrapper. Initial adviser fees can only be deducted from cash in the parent’s GIA or ISA wrapper and not the JISA itself. This is because we class initial fees as a withdrawal and withdrawals cannot be made from a JISA.

Please note that all forms can be signed electronically by your client using a recognised e-signature system such as Docusign or Adobe sign.

Payment details

Payments made to 7IM by bank transfer will be available to invest quicker than those sent by cheque.

Bank: ROYAL BANK OF SCOTLAND
Swift Code: RBOSGB2LXXX
Sort Code: 16-04-00
Account Number: 31266302
Account Name: Pershing Securities Ltd Client Hub Account
Payment reference: {Parent's 7IM individual investment account number}

Cheques

Cheques should be made payable to Pershing Securities Limited with the parent's 7IM individual investment account number on the back and posted to 7IM, 1 Angel Court, London EC2R 7HJ.

Transfers

Existing JISAs or Child Trust Funds (CTFs) held by another provider can be transferred to a 7IM JISA either in-specie (also known as re-registering) or in cash.

Clients will need to complete and sign our JISA Transfer form and then send it to postroom@7im.co.uk.

Where possible we will transfer assets electronically using the Altus system.

You will be able to monitor the progress of every transfer by logging into our platform.

Useful tools

Cash movements

Transactions > Cash Movements > Instruction. All instructions submitted by 2.30pm will show online the following business day.

7IM Platform

Bed & ISA

View video

Frequently asked questions

About the 7IM Junior ISA

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Existing clients

Topping up

No further paperwork is required to top up an existing active 7IM Junior ISA. New money should be sent to 7IM using the payment details shown below. All payments must be deposited into the parent’s GIA first and then subscribed into the Junior ISA using the cash movements or bed and ISA tools.

Lapsed ISA

To restart a lapsed Junior ISA, where clients have not subscribed with 7IM in either this or last tax year, you can use our online Bed & ISA tool and confirm the declaration (we will write directly to your client to confirm this action).

View video guide