[USER]

My parents are divorced. I am 28 y/o and looking to open a Roth IRA

One parent has an account for me with Schwab for individual stocks/investments.

The other parent has an account for me with Vanguard for individual stocks/investments.

Would there be any pros and/or cons to opening my own account with either of these institutions to kickstart a Roth IRA?

Or should I avoid those completely and go with Fidelity where I don’t have any account?

I don’t want there to be an issue of one person (me) having multiple accounts per se.

Thanks!

[Daniel]

I use two trading accounts since Robinhood and Webull had different introductory offers and I wanted to cash in on them.

Now I move the money back and forth between the two as different transfer offers open up. I pay for premium for both.

The important thing is to not contribute more than the limit for your IRA each year.

In the future, I’ll need multiple accounts so I stay below the FDIC insurance limit for each as well (I hope.)

[Shawn]

You have used both at this point. Both are fine, pick which ever you like better.

The costs are essentially the same.

[Zack]

It’s doesn’t matter. The accounts are associated with your SSN so even if you open account on your own the ones your parents opened with be accessable as well.

Pick whichever institution you prefer.

[Author]

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