Thank you for this great question. Due to financial regulations, minors aren’t legally able to start these kinds of accounts on their own. They need a trusted adult, like a parent, guardian, or grandparent to open the account in their name, taking the legal responsibility.
Copper enables trusted adults to then authorize youth to use their accounts in order for them to learn financial lessons early in life.
We aspire to help the next generation be the most financially successful generation possible. As a result, to get your teen started with investing, there are a few steps to set up:
At this time, the only funding source available to teens to fund their Copper Investing account is Copper Banking. As a result, you and your teen must first sign up for and fund a Copper Banking account in order to then sign up for investing.
Once your banking is set up, then you complete the Copper Investing account setup to open the investment account. You can do this within your Copper app.
Then, once you’ve completed their portion of the account setup, then your authorized youth users would be able to start their portfolio setup process in their app.