To give teens hands-on investing experience, Charles Schwab today announced the new Schwab Teen Investor™ account, a joint brokerage account for young people ages 13 to 17 and their parent or legal guardian.

The Schwab Teen Investor account is a joint brokerage account that allows parents to monitor and engage as needed as their teens invest.

With the Schwab Teen Investor account, teens get access to a range of investment products, financial education tailored to their needs, and 24/7 support from Schwab professionals. Teens who complete an online education course within 45 days of opening the account will receive $50 in fractional shares to help them get started.1 A joint account structure allows parents to monitor and engage as needed as their teens invest.

Schwab research shows that teens are eager to start investing, and parents are just as enthusiastic. According to a recent Schwab survey, 70% of teens are very or extremely interested in investing, and 73% of parents believe it is very important for teens to learn about investing. For parents, the desire for their teens to learn about investing is about teaching financial responsibility (69%), giving them a financial head start (65%), and ensuring they learn important financial concepts like growing wealth over time (64%).2