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Finance Dictionary and Glossary of Investment Terms
1. An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation). 2. A retirement account managed for eligible employees by a custodian.
An account which is created for the benefit of a minor, usually at a bank, mutual fund, or brokerage, with an adult as the custodian.
An account set up with a bank or securities company in your child''s name.