Investment Platforms Court Children as Parents Start Saving Years Earlier
Updated
Updated · The New York Times · Jul 11
Investment Platforms Court Children as Parents Start Saving Years Earlier
1 articles · Updated · The New York Times · Jul 11
Summary
Acorns, Robinhood, Schwab, Vanguard and Fidelity are increasingly pitching products for children, treating kids as a fast-growing new investor class rather than a niche market.
Easy-to-use retail investing apps have widened access beyond wealthy families with advisers, letting parents start accounts with small sums and begin saving much earlier.
Acorns has pushed furthest with Acorns Early and a kid advisory board that includes a 7-year-old and a 12-year-old reviewing app features.
The shift shows how the retail-investing boom is extending from adults trading spare change to families using investment platforms as an early savings tool for children.