UK startup Hapi has launched an app designed to help parents plan and invest for their children's future.
Through the app, parents can open a Junior stocks & shares ISA or a general investment account to help them plan and afford future expenses such as university fees, school fees and first home deposits.
Based on the child’s age, the investments selected and the goal selected, the app will suggest the monthly contribution require and will monitor it over time to help the parents stay on track.
Each account also has a unique link that allows grandparents, godparents, aunts, uncles and anyone else to contribute directly to the child’s account. Every contribution can also include a message and a picture that is then stored in Hapi’s “time capsule” allowing the child to relive all the memories when they access the funds at the age of 18.
The app is free to download, with Hapi taking a percentage fee on the amount invested, payable annually.