Many advisers will tell you that they can set up ‘School Fees Plans’. Unfortunately, this type of marketing has lead many to believe that special products exist that are bespoke ‘School Fees Plans’. In fact nothing could be further from the truth.
The best school fees planning will use the most appropriate products available to meet your requirements. A planning exercise should be carried out to establish the likely amount of funds required and to determine when the proceeds will be needed. However, the products themselves could be ISAs, OEICs, Pensions, National Savings, Investment Bonds or even existing plans such as endowment policies. In fact any financial asset could potentially be used to finance school or university fees and careful planning is beneficial.
As with all areas of financial planning, the important thing is that the products used are appropriate for you and for your personal circumstances.
If you want to plan for your child’s education, please contact us.
