How can I use Kiwi Wealth Managed Funds to save for my child's future?

Investing on behalf of a child is a great way to give a young person a financial head start in life. There are two ways you can save for a child’s future using Managed Funds.

You can open an account in your name (or jointly with your partner) and start putting some money aside:

  • You are the owner of the account and the investment is held in your name
  • As it’s your account you get to call the shots and withdrawals are paid to your bank account
  • If your circumstances change, the account can be repurposed
  • This option is available to anyone - Grandparents, aunties, uncles, godparents etc
  • You can open an account online in minutes

 

You can open an account on behalf of your child

  • The child is the owner of the account and the investment is held in their name
  • Only the parent/legal guardian of the child can open an account
  • All instructions provided on the account must be for the benefit of the child
  • Any withdrawals must be paid to a bank account held in the name of the child
  • Once your child turns 18, authority transfers over to them and they make all decisions (including when to withdraw) for the account.
  • Accounts can be opened by completing the Application Form on behalf of a child which can be found at the back of the Product Disclosure Statement