Charles Schwab has launched a new teen brokerage account that grants 13-year-olds full control over investments, marking a shift in retail trading access. The account, jointly owned by the teen and parent, differs from traditional custodial accounts by allowing minors to trade without parental approval.
- Charles Schwab launched a new teen brokerage account for individuals as young as 13
- The account is jointly owned by the teen and parent but controlled solely by the teen
- It differs from traditional custodial accounts by allowing independent trading decisions
- Commonly traded assets include AAPL, CL=F, and ^VIX
- The change reflects a shift in youth financial access but has no material market impact
- Experts emphasize the need for education and caution when investing at a young age
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