How it works
Sign up to Prosper
Create a profile and a goal for your child. No paperwork, no birth certificates!
Set your preferences
Select a product and risk level. You can also add an investment theme to personalise your portfolio.
Success!
Your child's account is now open and you’ve invested in hundreds of companies across the world. Wow!
Top up and share with family
You can now make one-off & monthly payments, add a partner or even get the whole family chipping in.
Investing Reimagined
Easy investing for your children’s futures
We’ve done the hard work so you don’t have to. Select one of our four investment options designed by experts at BlackRock & Vanguard to stay diversified for your long term goals.
You set the goal, we help you get there
Their first house. University fees. Or just a pot of money
to hand over on their 18th birthday. Whatever your goal,
we can help you put the steps in place to achieve it.
Receive gifts, directly to your child’s Junior ISA.
Uncle. Grandmother. Or even that family friend you see once
a year. Anyone can gift into your child’s account via Prosper gifting. Watch their money pot grow as the whole family chips in.
A money and a memory box
Bring joy to gifting money and celebrate all your child’s milestones. To make them even more memorable, anyone can leave a special message or photo with each gift.
Choose How You Invest
Junior Stocks & Shares ISA
A tax-free account in your child’s name that lets you (and anyone else) invest for them. It’s locked until they’re 18 so they can’t use the money before then.
Junior Investment Account (Bare Trust)
An account in a child's name that can be opened by any family member. It uses the child’s tax allowances and lets you withdraw money before they turn 18 (provided you use it for their benefit).
General Investment Account
A taxable account in your name, not your child’s (it uses your tax allowance). You’ve got full flexibility to decide what the money is used for, and when.
Unsure which account is right for you?
We can help.
Unsure which account is right for you? We can help.
Learn about the different options available to you and all the factors you should think about before making any decisions.
Read our free guideWhen you invest your money is at risk. You might end up with more than you put in - or you might end up with less. How much you’re taxed depends on your own personal situation, and that can change in the future.
This guide is intended to offer you financial education by showing you the available options in today’s market. It’s not personal financial advice on what suits your circumstances best. If you’re looking for that, you should speak to a qualified financial adviser.
Peace of mind with Prosper
We’re transparent
No hidden fees. No complicated pricing.
We charge a flat “platform fee” of 0.50% to manage your investments. There’s then an additional 0.20%-0.29%, depending on what investments you pick (paid to BlackRock and/or Vanguard).
That’s an annual fee of around £7.90 if you invest £1,000 with us.
We’re protected
Up to £85,000 of your money is covered by the UK Financial Services Compensation Scheme (FSCS) should WealthKernel (our Principal Firm) become insolvent.
We’re parents
We like to keep things in the family.
We’re an app built by parents for families. So, we understand your niggles and your ambitions when it comes to your little ones.
And we understand just how priceless peace of mind is.
Happy days.
Frequently Asked Questions
Prosper is an app created to help parents invest for their children's futures with the support of their close family & friends. We offer investment products like Junior Stocks & Shares ISAs, Bare Trusts and General Investment Accounts which you can use to invest money for your child's or another child's future.
We also allow family members to gift money directly into Junior ISAs (as well as leave a message and a picture for the child to see when they're older) without the hassle of sharing bank details.
We've built the Prosper app to make it as simple as possible for a group of people to invest together for shared goals regardless of what they are. Here's some of the ways we're different to other children's saving & investment products.
- You can select between three different investment products depending on your goals and wishes. This includes a Junior ISA if you want tax-free investing, a Bare Trust if you want flexibility before your kid turns 18 or a General Investment Account if you want to keep the money in your name.
- We let both the parents access and manage the account. No longer is only one member of the household in charge of the finances.
- Prosper is the perfect way for grandparents & godparents to gift money. You have a unique link for each goal you create which can be shared with friends & family allowing them to contribute directly to your children's futures. They can also leave messages and pictures which will all be given to your child when they access the money in the future.
- You can send gifts and begin the investment journey without receiving the bank details or personal information for the kid's parents. A perfect present for birthdays and Christmas.
Prosper is available to UK parents who are over the age of 18 with parental responsibility for a child under the age of 16 who lives in the United Kingdom.
Your investments are held by WealthKernel who act as custodian for all our customers' money. They hold your cash and investments separately from their own cash (ring-fenced) in accordance with the FCA's client asset rules, so even if Prosper went into administration, our creditors wouldn’t have a claim to your investments.
On top of this, your money is covered, up to £85,000, by the UK Financial Services Compensation Scheme (FSCS) if Thrive and/or Wealthkernel went into administration. Note that this doesn’t cover drops in the value of your investments.
The app is free to download, you only pay an annual % fee on the amount you invest on our platform, depending on the investments you choose.
That annual % fee includes a "platform fee" that goes to Prosper (0.50%) and fund charges that go directly to your fund manager (between 0.20% and 0.29% depending on the investments you select). So if you invested £1,000 with Prosper that would be a maximum annual fee of £7.90.