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Brewin Dolphin : The average British child is worth just under £5,000 by the time they reach school

09/14/2021 | 12:00am

A nationwide survey of parents has revealed the wealth that average British children have accumulated by the time they reach adulthood, with the average UK child having amassed just under £5,000 by the time they reach school at the age of 5, just over £10,000 by the age of 18 and £12,000 by the time of their 21st.

The majority of UK parents who responded claim they began saving for their children's key life moments when they were five years old, with 27 per cent saying they started before their child reached their first birthday and 15 per cent even admitting they began before their child was even conceived!

The survey, by wealth manager Brewin Dolphin, revealed that £125 a month was the average amount that parents put aside for their child's future each month.

The survey revealed that parents in Sheffield are able to save the least - averaging £65 a month, followed by those based in Leicester who save £86 a month on average.

This compares to Londoners who are able to dedicate the most at £195 on average each month, followed by parents based in Plymouth who secure £184 monthly.

Thirty-nine per cent of those who responded say they feel it is the duty of every parent to save for their children, whilst 55 per cent believe it is their duty but admit they can struggle with the obligation.

Yet a more hard-line one in 20 (six per cent) insist children should start from scratch and make their own money and their own way in life, without assistance from their parents.

Kirsty Simpson a financial planner at Brewin Dolphin who commissioned the survey and advises families on how to grow their wealth said, "This research reveals the foresight and future-proofing UK parents possess when it comes to securing their children's financial future. Everyone wants to do right by their child but we appreciate it's not always easy. When advising our clients we always try to look for any possible savings in their day-to-day lives that could be made. Things like selling unwanted toys and clothes or cutting back on generous Christmas and birthday gifts to save instead, can all help."

"These small amounts, when put aside, soon add up over the course of your child's upbringing. And once the pot of savings is large enough, invest it," concludes Simpson.

Kirsty Simpson's Top Five Tips to Build Up Children's Savings

  1. As children grow out of unwanted toys and clothes, sell them. Better still, get the children involved in this process and let them set up a stall at the front of the house and ask for donations for their old unwanted items.
  2. Instead of large presents on birthdays or at Christmas, use part of the budget to save for their future.
  3. If you are entitled to child benefit, think about putting that money into a Junior ISA.
  4. Consider whether you can put the Friday night takeaway money towards savings instead.
  5. Is there an unused gym membership that could contribute to savings?


*The research of 1,500 parents with dependents currently living at home with their parents, was commissioned by Perspectus Global in March 2021 on behalf of Brewin Dolphin.


For further information, please contact:
Richard Janes / Tel. +44 (0) 20 3201 3343
Siân Robertson: / Tel: (0) 20 3201 3026
Anita Turland: / Tel: (0) 20 3201 4263
Payal Nair / Tel: +44 (0) 20 3201 3342



  • The value of investments can fall and you may get back less than you invested.
  • Information is provided only as an example and is not a recommendation to pursue a particular strategy.
  • Brewin Dolphin is authorised and regulated by the FCA (Financial Services Register reference number 124444)

About Brewin Dolphin

Brewin Dolphin is a UK FTSE 250 provider of discretionary wealth management. With £51.4* billion in total funds, it offers award-winning personalised wealth management services that meet the varied needs of our clients including individuals, charities and corporates.

We give clients security and wellbeing by helping them to protect and grow their wealth, in order to enrich their lives by achieving their goals and aspirations. Our services range from bespoke, discretionary investment management to retirement planning and tax-efficient investing. Our focus on discretionary investment management has led to significant growth in client funds and we now manage £44.6* billion on a discretionary basis.

Our intermediary business manages £15.8* billion of assets for over 1,700 advice firms either on a discretionary basis or via our Managed Portfolio Service and the MI Brewin Dolphin Voyager fund range.

In line with the premium we place on personal relationships, we've built a network of 34 offices across the UK, Jersey and Dublin, staffed by qualified investment managers and financial planners. We are committed to the most exacting standards of client service, with long-term thinking and absolute focus on our clients' needs at the core.

For more information, visit:

*as at 31st December 2020.


Brewin Dolphin Holdings plc published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2021 16:01:11 UTC.

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