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| What kind of BUYandHOLD Investor are you? |
So, you think you've got what it takes to open an account for your BUYandHOLDer Jr.? Here are the steps you will need to take to set up your account appropriately.
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BUYandHOLDer Jr.
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If you have a BUYandHOLD account, please login. Then Click on Open an Account to open a Custodial Account or a Coverdell ESA (formerly an Education IRA) for a child.
If you do not have a BUYandHOLD account, you can open a Custodial Account or a Coverdell ESA for your BUYandHOLDer Jr. Click on the Open an Account button at the bottom of the page to begin. |
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Custodial Accounts are either opened as a Uniform Gift to Minors Act (UGMA) or a Uniform Transfer to Minors Act (UTMA). They are essentially the same, but vary slightly depending on the state in which you live. When you open an account at BUYandHOLD, we will determine the right account for you, based on where the custodian lives. In either case, you will need to know the Social Security Number for the child.
Coverdell ESAs are opened to help save for a child's elementary, high school or higher education. You will need to supply information regarding Primary Beneficiary(s), as well as Contingent Beneficiary(s) if you want them.
Single individuals with Modified Adjusted Gross Income of less than $95,000 and married individuals with a Modified Adjusted Gross Income of $190,000 can contribute to a Coverdell ESA per child. The maximum contribution is $2000 annually. Our annual fee for a Coverdell ESA is $10 charged on the anniversary of the opening of the account. This fee will be waived if you set up E-ZVestsm within 30 days of opening the account. This fee waiver will only occur if the monthly or weekly E-ZVestsm remains in place until the anniversary of the account opening. |
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When investing for you BUYandHOLDer Jr., the process is the same as purchasing stocks for your own personal BUYandHOLD account. Plus, if your child is over 13, you can teach them about investing by using our View Only Access function. You can teach your teens about the stock market by letting them follow the stocks in their Custodial Accounts or Coverdell ESAs. |
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BUYandHOLD
routes orders to Oppenheimer (member NYSE/SIPC) three
times a day, and provides real-time trade executions, unless
BUYandHOLD or any of its agents or affiliates experience technical,
mechanical or other difficulties, including but not limited to,
delays or loss of service resulting from computer, electronic,
mechanical, or communication line failure, heavy trading volume
and/or market conditions beyond our control.
Copyright
© 1999 – 2008 Freedom Investments. All Rights Reserved.
Freedom Investments, Inc. Member FINRA/SIPC
Privacy & Security
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