The offerings for 13- to 17-year-olds—limited to those teenagers whose parents or guardians also invest with Fidelity—will include ways to save and deposit money, a debit card and investing capabilities, all accessible on a mobile app.
Teens will be able to buy and sell U.S. equities, Fidelity’s own mutual funds and ETFs without any fees or commissions. To open the account, a teen’s parent or guardian must enter into a brokerage agreement with Fidelity, the, and after that the account—and power to make trades—is transferred to the teen.
Parents will be able to monitor the account’s activity and will retain the ability to close the account at any time, theCrucial Quote “Fidelity is committed to responsibly supporting young investors,” Jennifer Samalis, senior vice president of acquisition and loyalty at Fidelity Investments, said in a statement. “Importantly, our goal for the Fidelity Youth Account is to encourage young Americans to learn through action and foster meaningful family conversations around financial topics.”$10.3 trillion. That’s how much money Fidelity manages. It’s one of the largest stock brokerage firms in the United States.
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