Easiest Way To Buy Stocks for Your Child | UTMA Account at Fidelity

Dive into the world of UTMA accounts with me, Lisa J Stocks. In this video, we explore this custodial accounts and how it can be a fantastic means to save for a child's future or provide a financial gift. Also known as UGMA/UTMA accounts, these flexible options come with no income or contribution limits, and they offer the freedom of no early-withdrawal penalties or usage restrictions for the child. Discover how these accounts make it easy to invest in stocks, bonds, mutual funds, and more, ensuring a brighter financial future for the next generation.

#UTMA #CUSTODIALACCOUNT #INVESTFORYOURKIDS

A Step By Step Guide To Get Fidelity To Hold Your Hand:

What You Need:

Step 0: Set aside 20 minutes for your child's future
Step 1: Gather your child's Social Security Number
Step 2: Gather your child's birth certificate
Step 3: Gather the routing & account number for your personal checking account at your current bank

What to do:

Step 4: Call Fidelity's Customer Service Number (800) 343-3548

If you are new to Fidelity :
Wait for the automated system to ask you: “If you’re a new customer, press 1.”
Press 1 on your phone, then...

When they ask. In a few words what can I help you with?
You say: “Open a new account”

When you get a person on the line tell them the following:
“I’d like a representative to walk me through opening an utma account for my child”

Step 5: Ask to Review investing for options for children

Step 6: Fill out the UTMA Account application on a computer - https://www.fidelity.com/building-savings/child-saving-and-investing-compare