How can I withdraw funds from the cash management account held for a child?
Like any bank account, the only person who can withdraw funds is the account holder. That means the adult who created the investment account would be able to withdraw funds.
When the assets are eventually transferred to the minor, the bank account will be re-established in their name.
Please note: The transfer of assets does not occur automatically – you will need to decide when this occurs and advise Six Park accordingly. We recommend you discuss this with your accountant or tax adviser in advance.