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How to:

Submit a new JISA application

Setting up new Junior ISAs is now more straightforward than ever, this straight-through online journey makes the process simpler to complete.

Key things to remember

Minimum and maximum deposits:

  • Lump sum minimum: £1,200
  • Lump sum maximum: £9,000
  • Minimum cash: £1,200
  • Minimum regular contributions: £50 per month (£600 per year)
  • Maximum regular contributions:  £750 per month (£9,000 per year)

 

When the client turns 18:

  • The JISA will automatically convert to a Novia Stocks & Shares ISA and the JISA terms will no longer apply.
  • The client will keep the same investor and wrapper numbers.
  • The registered guardian’s authority will end and their access to the account in Investor Zone will be removed.

Contributions when the client turns 18:

  • Any regular contributions made before the client turns 18 will stop at age 18, with the final collection taken in the last collection period before their birthday.
  • This is because an ISA declaration must be completed before contributions can be made to an adult Stocks & Shares ISA.
  • Contributions can be restarted once the client is over 18, but you will need to submit an online top-up and agree to the new ISA declaration.

JISA and Child Trust Fund rules:

  • The Eligible Child can’t have a JISA as well as a Child Trust Fund (‘CTF’).
  • The Child Trust Fund would have to be transferred across to us in full in order to open a JISA.

Adviser Zone journey

From the Adviser Zone dashboard:

Select ‘Add Investor’

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Select ‘Junior Individual’

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Select ‘Adviser’ (even if you have paraplanner login)

  • The reason for this is you will be acting on behalf of the relevant adviser
  • The junior account must be linked to the same adviser as the registered contact.
  • The registered contact is the only person who can give instructions to the provider on management of the investments held.
  • The registered contact will be issued with any statements or correspondence related to the JISA
  • They must be the parent or legal guardian.

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Complete the details for the client

There is a validation process within the date of birth field:

  • If the client’s over 18, you won’t be able to continue.
  • If they’re under 16, there’s no need to provide a National Insurance number.
  • If they’re over 16, a National Insurance number is needed.

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Upload the client’s identity documents

Please upload a certified copy of at least one of the following;

  • Birth Certificate
  • Passport
  • NHS Medical Card
  • Child Benefit
  • Child tax Credit Document
  • National Insurance Number Card

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Add a wrapper and select ‘Add Junior ISA’

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The submission process:

1. Choose a wrapper nickname

The wrapper nickname is optional but useful for telling multiples of the same product wrappers apart.

2. Select the registered contact

You can select from active or prospect clients, however the prospect must become active before the JISA is submitted.

Or, if the client’s over 16, you can select them to be their own registered contact, and an email address will be requested for an Investor Zone login.

3. Choose investment types

Select from: Single, Regular, or Re-registration

  • Bank transfer limits may require clients to send larger amounts in multiple payments. By selecting ‘Add Another Investment’ in stage 2, you can match the expected amounts to each payment, which helps us add the funds to the wrapper more quickly.

4. Select ongoing charges

Select from: None, an Amount or a Percentage

5. Add assets

Select from: Cash only, Model Portfolio or Assets

6. View your documents

Document types:

  • Pre-Sales Illustration – This is an Imago Illustration.
  • Client report – This is for your records, there’s no need to send this to us.
  • Junior ISA Application Summary – This is for your records, there’s no need to send this to us.
  • Payment instructions (if applicable) – This document provides our bank details for single deposits.
  • Direct Debit Instruction (if applicable) – This document is for the client to complete and send back to us.

What happens next

Once submitted, the client will pull through to our technical team to process.

  • If it’s a single contribution, tell the client they can now do the bank transfer to the bank details provided in the payment instruction document.
  • If it’s a regular contribution and the client wasn’t present, the direct debit instruction needs to be completed and sent to us.

If you’ve selected ‘Yes’ to client online access, the client will be issued an Investor Zone login within 24 hours to the email address provided – they’ll need to activate this to avoid a documentation charge.

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Contact our team today

Whether you're looking to start using our service, or simply have a question for us, we're just a phone call or email away. Lines are open 9am to 5pm Monday to Friday. To help us improve our service, we may record or monitor calls.
contact for support

For Wealthtime platform queries, call
0345 680 8000

For Wealthtime Classic platform queries, call
03330 417 010