Though the rush of new young investors has not come without negative implications, critics argue. The popularity of stock trading app Robinood —which requires investors to be 18 or older to use its services — has been criticized as helping to start bubbles in the so-called meme stocks like GameStop, as well as cryptocurrencies. However, Robinhood is not the only brokerage going after younger generations., 1.
"Our goal for the Fidelity Youth Account is to encourage young Americans to learn through action and foster meaningful family conversations around financial topics," said Jennifer Samalis, senior vice president of acquisition and loyalty at Fidelity Investments, in a press release. When the teenager reaches the age of 18, the account will transition to a standard brokerage account.
As of the first quarter, Fidelity has 83.4 million total accounts and $10.4 trillion assets under administration.Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Taking candy from babies?
Woohoo
Greed.
Lot’s of newly broke parents on the horizon.
What could go wrong
This is going to end well…
I was looking for dogecoin but not available to buy on Fidelity
“It’s not a bubble guys this time is different”
You're walking a slippery slope.
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