19 October 2016 12:00 am
As part of children’s financial planning, NDB Wealth has introduced two types of plans, Kid’s Saver, an ideal alternative to a traditional children’s savings account, and Kid’s Saver Plus, a truly unique investment account linked to the performance of the stock market.
According to Christina Wesley, a financial planner with NDB Wealth, “Putting your money away in a regular savings account that offers insignificant interest rates and flashy toys, isn’t going to make your child a whole lot wealthier.”
Kid’s Saver from NDB Wealth is different from anything else out there since it is designed to give your child all the benefits of a hardworking savings account, but with even more returns. “The Kid’s Saver plan credits income daily and we all know how powerful compounding or income-on-income can be in the long term,” added Wesley.
If you are an ambitious parent who is looking to get the best out of your investment for your child, be it to prepare for their education, to buy them house or even to save for their marriage, you have to make sure the wealth you need to build keeps up with your ambitions. “This requires a good plan, the best advisor and the right product,” said Wesley.
The children’s investment plan, Kid’s Saver Plus from NDB Wealth, is a unique product as it invests a small portion of your savings in the stock market. “This is a nice booster as your child continues to enjoy the interest income and safety of a savings account, but with only a slightly higher risk taken by investing in the stock market, which will let you achieve your more ambitious financial goals for your child.”
Among the other benefits, both the Kid’s Saver and Kid’s Saver Plus plans allow you or your child to check the account online and watch the balances grow daily; a personalised card is issued for every child and you are offered doorstep service. Also important, as an NDB Wealth client, you have access to invaluable advise from the company’s highly trained relationship managers, part of its exemplary wealth management team recognised for their expertise and excellence in asset and wealth management by the prestigious the Global Banking & Finance Review magazine in 2015.
Commenting, NDB Wealth CEO Prabodha Samarasekera said, “We are thrilled to share alternatives to traditional children’s savings accounts and investment plans, Kid’s Saver and Kid’s Saver Plus, respectively, which we are confident are better than what is currently available elsewhere in the market today. Added to this is the advice offered by our exemplary financial planners, which is the difference between just scoring and scoring big. As a parent myself, I think it is our responsibility to maximise the opportunities available to our children and NDB Wealth can undoubtedly help you do it.”