Alliance Trust highlights popularity of children's savings accounts

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Alliance Trust highlights popularity of children's savings accounts

Wed 29th Dec 2010

The popularity of savings accounts designed for children has been pointed out by a source from Alliance Trust.

Steve Latto, head of pensions at the company, made his remarks after sales of such products increased by 48 per cent during the three months leading up to November 31st 2010.

He suggested financial gifts of this type could help a youngster kick-start their savings and should be considered as an alternative gift for children.

Mr Latto added: "For many parents Christmas was a time for frantic searching for the latest toys which normally are left gathering dust early in the new year."

The Alliance Trust expert suggested children's savings accounts could be the first step towards securing a youngster's financial future.

Last month, the company identified the Alliance Trust Plc investment trust as the most popular fund among its customers, with Templeton Emerging Markets and Murray International Trust occupying the second and third positions respectively.

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