People also ask
Does Vanguard offer UGMA accounts?
A Vanguard UGMA/UTMA offers you more No enrollment, transfer, or advisor fees for self-directed clients. If the custodian chooses to partner with Vanguard using our advisory service to help reach the financial goals of the UGMA/UTMA, an advisory fee would apply.
What investment account can I open for my child?
Investing for Kids: 5 Account Options Custodial Roth IRA. If your child has earned income from a part-time job, they may qualify for a custodial Roth IRA. ... 529 Education Savings Plans. ... Coverdell Education Savings Accounts. ... UGMA/UTMA Trust Accounts. ... Brokerage Account.
What are the cons of a custodial account?
Downsides of custodial accounts Financial aid: Custodial accounts are considered the child's property \u2014 and assets. ... Lack of tax breaks: While custodial accounts include tax advantages, they also exclude other tax benefits. ... Irrevocable: A custodial account legally belongs to its beneficiary \u2014 the child.
Does Vanguard have UGMA?
With Vanguard, you can choose from a variety of accounts including individual and joint accounts, 529 savings plans, as well as UGMA and UTMA custodial accounts.
Are custodial accounts safe?
A custodian account is an account, administered by a financial institution, that holds securities investments on our behalf. These financial institutions tend to be large and reputable firms that we trust to safeguard our investments. Most commonly, we may come across custodian accounts when we invest in stocks.
vanguard custodial brokerage account