Raiz Kids is a simple way to save and invest small amounts regularly for your children/grandchildren.
We understand that life gets busy, life gets messy, especially when you have little ones. For the parents and grandparents in our Raiz community, we know it is not simple to get started on a savings fund for your kids.
What is Raiz Kids?
Raiz Kids is a simple way to save and invest for your children and/or dependents who are under the age of 18.
Just like your main Raiz balance, you can invest your spare change from everyday purchases, set up a recurring or lump sum deposit towards you and your chosen Raiz Kid(s).
You can control the access your Raiz Kids have
Raiz Kids can now have direct access to their own investment portfolio, with your permission. This can be an immersive way to help your kids understand how financial markets works and start developing savings and investing habits that they can take with them into their adult lives.
But don’t worry, you get to choose how much access your Raiz Kid has. If you give permission in the settings, your Raiz Kids can choose their own portfolio, or can make changes to recurring investments as an example. You can also choose to get notified any time a Raiz Kids account makes changes to these settings.
You can have multiple Raiz Kids accounts, each with different settings and permissions
Each Raiz Kids account can have different permission and controls, tailored to suit the age of the child and what control you would like to give. Each Raiz Kids account can have a different portfolio selection. You can have different one-off and recurring investments for each Raiz Kid, which could be great for different investment pocket money or does different chores around the house that are done 😊
How to setup a Raiz Kids account within your Raiz Invest account?
- Make sure your app is updated to the latest version. Then head to “Invest” on the home page of the Raiz App or website and scroll down to “Automatic Savings for your Child”
- Enter the personal information of your child, such as their name and D.O.B. (this may be prefilled if you already have been using Raiz Kids).
- Choose what level of control your child can have over the investments
- Choose if you would like to create a recurring investment, whether its daily, weekly, fortnightly or monthly
- Select from one of seven Raiz Portfolios to suit your risk tolerance, or build your own using Custom Portfolio
- Determine what notifications you would like to receive when your Raiz Kid makes any changes to their account.
Give your kids the gift of investing
We want to give you the chance to see firsthand and free of charge how these new features can help you invest for the next generation.
We will email you a minimum of 30 days before the Raiz Kids feature will start incurring a fee. The PDS outlines what the new fee structure is.
It is important to note that just like Raiz Invest accounts, Raiz Kids accounts carry investment risk.
To see Raiz fees, click here.
To see if Raiz is a suitable investment product for you, please read the PDS.
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important Information
The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.
A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.
The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.
Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.
Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.
