2 thoughts on “Where Can I Open a Brokerage Account to Invest for my Kids?”

  1. Great article, Andy. I love this topic. We have custodial accounts for each of our 3 kids at Schwab. I chose Schwab because, as you note at the end of your article, they have no minimum account balances. And, the strategy I’ve encouraged them to invest with uses sector funds. At Fidelity, some of those funds require a minimum of $15,000 whereas the same funds can be purchased at Schwab for just $100.

    One other quick point. Regardless of which broker you use, it’s great to get kids started with investing sooner than later. I could talk to our kids about various investing topics and they’d probably half-listen. But now that they have some of their own money actually invested, they’re very interested. Just the other day, I was online with one of them and he saw a term he didn’t understand — cost basis. He was interested in learning, and that’s one of the main benefits of getting them in the game.

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