Maintaining control of funds for children?

Not another ‘what fund do I set up for my kid’ question I promise.

We’re looking to set up a fund for our 9 month old (probably Simplicity Growth or very similar).

I can’t decide whether the tax benefits of setting it up under her name outweigh the risks - I’d much rather it was in our names so we retain some control over its use and can veto any dumb decisions made by an 18 year old without a fully developed brain.

I’d be interested to hear others thoughts on this - are investments for your children in their own names?