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New Fidelity Account Lets Teens Invest in Stocks The Fidelity Youth Account is an industry first. Photo by ViDI Studio / Shutterstock.com When you invest in stocks, an early start can make all the difference. Now, Fidelity is helping youngsters get a big jump on building their portfolios. On Tuesday, the financial services corporation rolled out the Fidelity Youth Account, which is aimed at kids between the ages of 13 and 17. Fidelity says it is “the industry’s first brokerage account designed exclusively for 13- to 17-year-old teens to save, spend and begin investing.” The new youth account allows teens to buy and sell U.S. stocks, Fidelity mutual funds and many exchange-traded funds, or ETFs. Parents and guardians are able to monitor their teen’s account activity. ....
Move over, Robinhood Fidelity democratizes investing for teens Teens will be able to trade U.S.-listed stocks, Fidelity mutual funds and most exchange-traded funds, with no account fees or commissions. May 18, 2021 3 MINS Fidelity Investments Co. is launching a new type of account for teenagers to save and invest their money, according to an announcement Tuesday. Meet Fidelity Youth Account, the platform where teens will be able to trade U.S.-listed stocks, Fidelity mutual funds and most exchange-traded funds, with no account fees or commissions. The platform also lets 13- to 17-year-olds open savings accounts and debit cards with no account fees or minimums, according to the company’s website. ....
The teen must have a parent or guardian with an existing Fidelity account. Teens will own the account and can trade most U.S. stocks, ETFs and Fidelity mutual funds, but are not permitted to trade options. Deposits in the account are capped at $30,000 annually. The service will not have subscription fees, account fees, minimum balances, debit card domestic ATM fees or commissions for online trading. At age 18, the account will be transitioned to a retail brokerage account for free. Parents or guardians will be able to have ongoing oversight by monitoring account activity through monthly statements, trade confirmations and by viewing debit card transactions. They can also set up alerts to be notified of trades, transactions, and cash management activity. ....
Fidelity Banks on The Rise of the Young Retail Investor, Offers Brokerage Account to 13-to 17-year-olds gobankingrates.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gobankingrates.com Daily Mail and Mail on Sunday newspapers.
Fidelity to allow teenagers to trade stocks with no-fee accounts financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.