Jason Hollands and Financial Adviser

financial adviser: One of the first things the Coalition did when it was elected in 2010 was scrap CTFs for all children born after January 2011, according to The Independent. Jason Hollands, a financial adviser at Tilney Bestinvest, said: "Competition drives the market. So the issue with closing off the CTF market was that competition dries up, so there was no incentive for providers to offer competing rates." But the buzz was shortlived. Although the Treasury topped up each savings plan with a further 250 or 500 when each child reached seven, financial advisers claimed the choice of accounts and rates available were not competitive enough. Anyone wanting to save for a child born after that date needed to open a junior Isa. Jisas did not include a government contribution, but with more providers offering versions of the account, which are similar to adult Isas, experts insisted they were a far better option. However, people with CTFs could not transfer the money into a Jisa and their options were limited. (news.financializer.com). As reported in the news.