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UGMA/UTMA fidelity or vanguard

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  • UGMA/UTMA fidelity or vanguard

    Dear all

    which one to choose to start a UTMA/UGMA- fidelity or vanguard and why?


  • #2
    Yes, because.


    • #3
      I have had UTMA accounts for my kids with Fidelity for many years. My son, now 23, now has control of his account as an individual taxable account. I do not have experience with Vanguard for a UTMA, but I do have both Fidelity and Vanguard taxable accounts and have had both for 20+ years. Not specific to UTMAs, in most areas, the customer service experience is better with Fidelity, and I would expect that advantage to also favor having a UTMA account (or any other account that is offered) at Fidelity.


      • #4
        I did my UTMA accounts for both kids at Vanguard. Already had other accounts there and I preferred the investment options. Transferred control to the kids after college. Never had an issue.


        • #5
          Started UTMA for 2 kids at Vanguard 2006. When they reached majority transferred both to Fidelity brokerages for ease of use. The only reason I still have Vanguard is distributing risk to have more than one major brokerage and sharing financial oversite with a parent. Vanguard was superior in mid 1990s but by 2005 Fidelity was superior.


          • #6
            We used Schwab. Some of their funds have lower minimums.

            I think any of these big three are good enough.


            • #7
              I have UTMA with Vanguard but in the last couple of years I found th eface to face interaction with the local Schwab branch people to be better than the terrible phone line waiting at Vanguard.

              Schwab or Fidelity.