New Schwab account lets kids buy and sell stocks. Here's how.

If your teenage child is itching to invest in Nvidia and Nintendo, the new Schwab Teen Investor account may be for you. The teen account, unveiled on March 26 by investment firm Charles Schwab, is designed for joint ownership by teenage children and their parents or guardians. In the past, underage investors who wanted to own stocks typically had to settle for custodial accounts, opened and managed by parents in a minor’s name. With custodial accounts, “the child is really a passenger,” said Jonathan Cr ...