Skip to main content
No. of Recommendations: 0
Greetings, ACVC, and welcome. You wrote:

<<Having trouble finding a online discount broker to transfer two custodial accounts for my sons ages 9-10, currently in CD accounts at local bank.Any advise.>>

Other than to keep searching, I can't offer any help. Many (if not most) IRA providers are highly reluctant to act as the custodian for a minor's IRA even though it's perfectly legal for a minor to have one. (I understand that Vanguard does, but their brokerage fees are higher than a discounters.) That's because minors cannot enter into a binding contract, and an IRA custodial agreement is a contract. All you can do is to keep on looking. I wish you luck in the search.

If you find a discount broker who will accept the IRAs, please come back and tell us so others in your situation can benefit.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.