Platform provider Zurich has added a junior ISA and pension to its platform in a move to target “impending baby boomer wealth transfer.”

The provider says the move will give advisers more scope to help with inter-generational wealth planning and will help them manage assets across the generations.

Charges for both products will be same as for Zurich’s platform, a tiered annual fee based on a customer’s portfolio value.

Parents and guardians can open a junior ISA on behalf of a child aged 17 or under and the investment limit is £4,260 a year.

The junior retirement account is available to parents and guardians with children aged under 18, and allows anyone to contribute up to the £2,880 annual limit, which is worth £3,600 after 20% tax relief.

Alistair Wilson, Zurich’s head of retail platform strategy, said:  “The impending transfer of wealth from baby boomers to younger generations is likely to trigger a significant increase in demand for inter-generational planning.

“Our new junior pension and ISA will help parents and relatives pass on their accumulated wealth tax efficiently, giving their loved ones a head start in life, whether that’s buying a home, paying university fees or saving for retirement.

He added: “For advisers, these products also give them an opportunity to connect with their clients’ heirs. By building trusted relationships with beneficiaries, advisers can help families to preserve their wealth, as well as enhancing their own prospects of managing assets across generations.”

Investors in Zurich’s junior ISA and pension will have access to 3,600 funds from more than 180 fund managers. They can also use family linking of accounts, allowing several generations to access lower charges, says Zurich.