Savings schemes run by asset management groups offer a way to buy shares in investment companies without having to use a platform. They go under many different names such as “investment trust savings schemes”, “investment schemes” and “wrapper schemes”. Some of them are available as ISAs and/or Junior ISAs.
Savings schemes can make it easier to use investment companies to meet investment needs, such as saving for children. However, the important thing to remember is that savings schemes generally offer investment companies that are managed by the group that runs the scheme, not a full range of investment companies. There are fewer savings schemes than there used to be, as some of them have been discontinued and transferred their clients to platforms. Details of remaining schemes can be found below.