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Fidelity Investments is looking to tap a new generation of investors: 13- to-17-year-olds.

The Boston-based financial services firm launched a program on Tuesday that lets teens set up no-fee savings and investment accounts, which would allow them to buy and sell stocks, as well as mutual funds and ETFs.

Fidelity says the program, called Fidelity Youth Accounts, is designed to help teens learn how to save, spend, and invest from a young age. To set up an account, however, they will need the consent of a parent or guardian who has a brokerage account with Fidelity.

“Fidelity is committed to responsibly supporting young investors,” said Jennifer Samalis, the company’s senior vice president of acquisition and loyalty, in a statement. “Importantly, our goal for the Fidelity Youth Account is to encourage young Americans to learn through action and foster meaningful family conversations around financial topics.”


Throughout the pandemic — perhaps because many people have been stuck at home — brokerage firms have seen an uptick in the number of people establishing trading accounts for the first time. Fidelity’s surge came from a crop of young investors: Of the 4.1 million accounts opened across the company in the first three months of the year, 1.6 million were opened by investors under age 36, a more than 220 percent increase compared with the same period a year ago.

Fidelity’s push to attract children is an obvious effort to build on that trend, which has led to the popularity of other trading platforms such as Robinhood, which positions itself as an accessible platform for new investors. Others, including Massachusetts securities regulators, believe Robinhood’s design encourages risky behavior among inexperienced investors by treating the buying and selling of stocks like a game.

Fidelity has already said its new accounts for teens come with built-in education modules intended to boost financial literacy, and it is giving parent and guardians access to a child’s account so they can monitor it, or set up alerts for trading and transaction activity. When a teen turns 18, the account will transition into a standard retail brokerage account.


Anissa Gardizy can be reached at anissa.gardizy@globe.com. Follow her on Twitter @anissagardizy8.