YIELD CUSTODIAL ACCOUNTS
they’ll thank you
We believe that almost every parent loves their child but yet so few parents take the time to set their children up to succeed! We here at Yield want to see that change so we are offering you the tools to set your kids up for financial success. That’s where Yield Custodial Accounts come in—exclusive to Yield Plus.Get started
Give your child the head start they deserve!
A financial gift
UTMA/UGMA accounts will allow you to invest on a child’s behalf and ensure they are better prepared for their future financial needs. These funds can be used for anything they want or need in the future.
There when they need it
As a custodian to the account, you control the investment strategy until its beneficiary comes of age (age 18 to 25, depending on your state).
Time is on their side
Investing early on a child’s behalf helps give them a financial advantage compared to those who begin investing in adulthood.
Open a Yield Custodial Account
Become a member
of Yield Plus
Open a Custodial
lets you do more
Custodial Accounts are just the beginning.
As a member of Yield Plus, you would have access to our best rates and exclusive features to supercharge your wealth strategy.
AM and PM
What you need to know
Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) are custodial accounts created under a state’s law to hold gifts or transfers that a minor has received. If you’re not sure what type of account is best for you, consult a professional tax advisor or financial advisor for one-on-one guidance. Learn more about UTMA/UGMA accounts.
529 plans are specific to higher education costs. Custodial (UTMA/UGMA accounts) are not specific to educational savings (although the funds in a custodial can be used for education). Funds saved in a 529 plan and used for higher education have tax benefits, whereas funds in a custodial account that are used for education do not come with tax benefits for educational costs.
Any withdrawal from a custodial account must be for the use and benefit of the minor. There cannot be transfers initiated from the custodial account directly to another Yield Wealth Management account or Yield Invest account unless through Yield Spend or the user’s external bank account.
The age of majority can range from 18 to 25 years old and varies based on your state of residence. You may want to ask a financial consultant about the laws in your state.
Any funds used prior to the age of majority must be used for the sole benefit of the minor. Unlike college savings plans, there is no penalty if account assets aren’t used to pay for college. Once the minor reaches adulthood, the money is turned over to the minor and the minor will have full control of the assets and can use them for any purpose—educational or otherwise.
Total control, total automation for
your wealth today and tomorrow
1 Yield Margin Loans are available on margin accounts with at least $2,000 invested per account. Not all securities are available for Yield Margin Loans and the amount that may be borrowed against a security is subject to change without notice. Available margin amount(s) of Yield Margin Loans may require greater than $2,000 per Brokerage Account. Not available for Retirement and Custodial accounts. Margin rates may vary.
2 Obtaining stated APY (annual percentage yield) or opening a savings account does not require a minimum account balance. Stated APY is valid from date of account opening. Account fees may reduce earnings. Higher APY rate subject to paid M1 Plus subscription. Rates are subject to change.
3 Participate in both trade windows when you have $25,000 or more equity to comply with pattern-day trading regulations.