Can a 13 yo have their own investment account? My son wants to buy some mutual

Sign up, and you'll be able to ignore users whose posts you don't want to see. Sign up

Report problem with this ad

Jan 17, 2019
2:54:20pm

Iman23 All-American

Can a 13 yo have their own investment account? My son wants to buy some mutual

funds.

Does he have to do it through my account, or can he have his own?

Report problem with this ad

Iman23

Bio page: Iman23
Joined: Jan 18, 2008
Last login: Apr 26, 2024
Total posts: 42,520 (2,706 FO)

Report problem with this ad

Messages

Author

Time

Can a 13 yo have their own investment account? My son wants to buy some mutual

Iman23

1/17/19 2:54pm

No, cannot legally own securities. If you open a college savings pan for him,

PhilPete

1/17/19 2:55pm

Uniform Gift to Minors Act. I am not sure they are still available

BYU71

1/17/19 2:57pm

Still availabel. I couldn't remeber the title of the account. Thanks.

PhilPete

1/17/19 3:26pm

Old enough for a CB account should be old enough for an investment account.

garyfan

1/17/19 3:04pm

Just open a UTMA account for him at somewhere like Fidelity. It’s easy.

RdF3

1/17/19 2:59pm

UTMA or UGMA, but I believe they get full control of the account when

neboutefan

1/17/19 3:07pm

This is what Vanguard told me last week as well when I asked the same question

BYUfan92

1/17/19 3:31pm

Yes - Open a custodial account at Schwab

A Man in Full

1/17/19 3:18pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad