Nov 26, 2024 · What Is a Custodial Account? A custodial account is a kind of savings account controlled by an adult on behalf of a minor, also known as a beneficiary. This account can be opened through a financial institution, mutual fund company, or brokerage business.

Jan 2, 2024 · Custodial accounts allow adults to give minors cash, securities, real estate, annuities, insurance policies and other assets more easily than setting up a trust. How do custodial accounts...

Jan 2, 2025 · A custodial account is savings or an investment account, established with a bank, brokerage firm, or mutual fund company, that’s managed by an adult on behalf of a minor, also known as the beneficiary.

Nov 25, 2024 · Once established, a custodial account functions like any other account at a bank or brokerage. The custodian—a designated manager or investment advisor—decides how to invest the money.

Aug 30, 2023 · What Are Custodial Accounts? A custodial account is a type of financial account that an adult—such as a parent, grandparent or even a sibling—opens on behalf of a minor child.

Products, accounts and services are offered through different service models (for example, self-directed, full-service). Based on the service model, the same or similar products, accounts and services may vary in their price or fees charged to a client.

Nov 1, 2024 · Custodial accounts are a great way for parents, grandparents and friends to invest money on behalf of children or grandchildren. Typically offered by brokers, robo-advisors and investing...

Nov 21, 2024 · A custodial account is generally created by a parent or grandparent for the benefit of a minor child or grandchild. When you put money into a custodial account, you make a gift to the minor beneficiary of the account, even though the minor does not control the account.

Mar 20, 2024 · Custodial accounts allow you to open and manage an investment or savings account on behalf of a minor. You are the account custodian until the minor reaches the age of majority in...

Sep 5, 2024 · Custodial accounts are financial accounts managed by one person on behalf of another. Typically, custodial accounts are held by parents to save money or invest for their minor children. Opening a custodial account may help your child establish a sound financial future.