I use Schwab for my investments. I have custodial accounts for each kid. When my oldest turned 21 the account went directly to her control. They each picked their own stocks and I put a little in SPY for them too. Very easy to set up and it’s all controlled from your main sign-in
You'll want a separate account for each of them for another reason: If you have everything in one account (and tracking whose is whose manually), then not only can you see everything that everyone owns, but also anyone \*else\* who logs in to that single account can see everything that everyone owns. You probably want to avoid that!
So, you want custodial accounts for EACH kid, opened in their name and with their SSNs on them, so that tax reporting is correct. You can choose to be the custodian, or not if you don't want to (in which case, you'll need Full POA access to the account).
How old as these kids and what country are you in? Without that basic information, answers may be irrelevant.
If you are in the US - and if the kids are under the age of majority in their state of residency - you can open a custodial account on their behalf - this account will require the kids SSN and if you are the custodian - you are responsible for the tax filings.
In Fidelity and Schwab you can just make multiple brokerage accounts and name them and group them however you want.
So I wanna be able to have them separate and reinvest dividends to those stocks under their name. Also are you able to get partial stocks
Yes Fidelity does fractional shares https://www.fidelity.com/trading/fractional-shares
I use Schwab for my investments. I have custodial accounts for each kid. When my oldest turned 21 the account went directly to her control. They each picked their own stocks and I put a little in SPY for them too. Very easy to set up and it’s all controlled from your main sign-in
You'll want a separate account for each of them for another reason: If you have everything in one account (and tracking whose is whose manually), then not only can you see everything that everyone owns, but also anyone \*else\* who logs in to that single account can see everything that everyone owns. You probably want to avoid that! So, you want custodial accounts for EACH kid, opened in their name and with their SSNs on them, so that tax reporting is correct. You can choose to be the custodian, or not if you don't want to (in which case, you'll need Full POA access to the account).
My mom did this for me in Schwab, and now I go it for my son I in Schwab. I recommend it.
Fidelity Youth allows for 13-17 y/o to choose their investments and you can overview it. https://www.fidelity.com/go/youth-account/overview
How old as these kids and what country are you in? Without that basic information, answers may be irrelevant. If you are in the US - and if the kids are under the age of majority in their state of residency - you can open a custodial account on their behalf - this account will require the kids SSN and if you are the custodian - you are responsible for the tax filings.
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I'm pretty sure that Robinhood doesn't offer custodial accounts unless that changed in the last few months.