The inbestMe Kids account is an investment portfolio of Standard Index Funds or SRI Index Funds where the underage will be the account holder and the adult (mother, father or legal guardian) will be the authorised person until the account holder reaches the age of 18.
If you already have funds in other entities where the holder is the underage person, you can transfer them to inbestMe without tax impact to the Kids account. As with all services, inbestMe will take care of keeping the plan adjusted to the selected profile, process new contributions and keep costs low with access to the best funds from the world's best fund managers.
Opening an inbestMe account is 100% online and easy. First of all, you will have to answer our short questionnaire to find out the composition of the Kids portfolio according to the profile you have obtained. In the questions time horizon and age, you should answer with the minor in mind. Other questions such as objective, risk aversion, possible loss, employment status, income and wealth should be answered with the authorised adult in mind.
Once you have obtained your personalised wallet, you will have to start the account opening registration and in the first question, after confirming your email and creating a password, you will find the option "Account type", where you will select the Kids account. From here, the registration process will guide you through the necessary information for the minor and the authorised person.
Our portfolios for minors are portfolios of Index Funds or SRI Index Funds depending on the investment style chosen by the adult. Their composition will depend on both the style chosen and the amount invested:
Further details of all the funds used in each investment style can be found on the product pages: Standard Index Funds or SRI Index Funds (client's choice). To know exactly the distribution or composition of the portfolio we recommend you to take our short questionnaire and in less than 1 minute you will get the plan.
Please note that the final funds in the portfolio may vary, as our Investment Committee is constantly improving the portfolios. These improvements will always be at no cost to the client and the client will be informed at all times of such changes.
Remember that the ownership of a kids account belongs to the minor and the adult only acts as the authorised person as long as the minor is not of legal age. When they turn 18, the adult will see a notice in their customer area to create a new independent user with a new email address (that of the minor).
The underage person must confirm the e-mail address and validate the account details by means of a PIN sent by SMS to the telephone number provided. Once the details have been confirmed, the child's portfolio will become part of this new account and will be deactivated in the adult's account. From that moment on, the underage person will take full control of the account and the investment deposited therein.
At the moment, investment accounts can only be opened for minors with a Spanish ID and the minimum amount to open a child account is €1,000. The distribution and fees will be the same as the inbestMe index fund portfolios. It is possible to open multiple accounts for the same minor, with different objectives, profiles and styles.