Key Takeaways Charles Schwab launched a joint brokerage account for teens ages 13 to 17 and a parent or guardian.SCHW said one-third of new-to-firm clients last year were Gen Z, and average client age fell by 10 years.The account may support future cross-sell, but its adoption and near-term earnings impact remain unclear.Charles Schwab (SCHW) has introduced the Schwab Teen Investor account, a new joint brokerage account for teens aged 13 to 17 and a parent or guardian. This move aims to attract clients earl ...

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 ...