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Learning, Sharing, and Teaching => Investor Alley => Topic started by: PDXTabs on June 21, 2019, 08:25:16 PM

Title: UTMA account options for low balance
Post by: PDXTabs on June 21, 2019, 08:25:16 PM
Does anyone have any recommendations for where to open a UTMA account for my son? There wouldn't be very much in it to start, maybe $200.

EDITed to add - there are conflicting reports as to when or whether M1 Finance allows UTMA accounts. Their FAQ says no but the paper application says yes. Reddit says mid-2019.
Title: Re: UTMA account options for low balance
Post by: Kem on June 22, 2019, 09:28:43 AM
I hold my daughters UTMA at Fidelity - this is where their gift money or small jobs money goes.

The younger daughters was opened with around $300.  Currently I invest their small funds into ITOT as it is inexpensive vs VTI.  New contributions will be going into Fidelity zero fee funds