Requester: James Lee (james@zabaca.com) Research Date: 2026-01-29 Original Question: Does Wealthfront have custodial accounts support? I am a Wealthfront customer and would love to continue using them.

TL;DR

Wealthfront does not currently offer custodial IRA accounts for minors, though they have indicated plans to offer them in the future. However, several reputable alternatives—including Fidelity and Charles Schwab—offer robust custodial Roth IRA and Traditional IRA options with no account fees, no minimums, and comprehensive investment options.

Detailed Answer

Wealthfront Custodial Account Status

Wealthfront does not support custodial accounts (UTMA/UGMA accounts) or custodial IRAs at this time. If you’re specifically looking to open a custodial IRA account for a minor, Wealthfront is not currently an option.

While Wealthfront does offer several retirement account types—including Traditional IRAs, Roth IRAs, and SEP IRAs—these are available only to individuals 18 years or older who have a U.S. Social Security number, permanent U.S. residential address, and currently reside in the U.S.

The good news is that Wealthfront has publicly stated plans to offer custodial accounts in the future, so you may be able to use them for this purpose eventually.

Alternative Platforms for Custodial IRAs

Since Wealthfront doesn’t currently support custodial accounts, here are two leading alternatives that do:

Fidelity Custodial Roth IRA

  • Contribution Limit (2026): $7,500 per year (or 100% of earned income, whichever is less)
  • Key Features:
    • $0 commissions on online US stock and ETF trades
    • No account fees or minimums to open
    • Wide range of investment options (stocks, ETFs, mutual funds, etc.)
    • Roth IRA growth is federal tax-free and withdrawals are tax-free in retirement
    • Contributions can be withdrawn without taxes or penalties at any time
    • No impact on financial aid calculations
  • Custodian Control: Parent/guardian controls the account until the minor reaches age of majority (typically 18 or 21 depending on state)

Charles Schwab Custodial IRA

  • Account Types: Both Custodial Roth IRA and Custodial Traditional IRA available
  • Key Features:
    • No minimum balance requirements
    • No account-opening or maintenance fees
    • Same contribution limits and rules apply as regular IRAs
  • Custodian Control: Parent/guardian maintains control until the minor reaches age 18 (or 25 in some states)
  • Requirements: Minor must have earned income; custodian needs minor’s Social Security number or tax identification number
  • Setup: Available at Schwab.com/IRA

Eligibility Requirements for Custodial IRAs

All custodial IRA providers (including Fidelity and Schwab) require the following:

  1. Earned Income Requirement: The minor must have earned income from employment or self-employment

    • Eligible income includes: wages, self-employment income, babysitting, pet-sitting, lawn mowing, or other services
    • Ineligible income includes: allowances, gifts, investment income, or inheritance

  2. Contribution Limit: Limited to the lesser of $7,500 or 100% of the child’s earned income for the year

  3. Custodian Requirement: An adult (parent, guardian, or other responsible party) must manage the account until the minor reaches the age of majority

Key Points

  • Wealthfront does not support custodial IRA accounts for minors at this time
  • Fidelity and Charles Schwab are solid alternatives offering custodial Roth and Traditional IRAs with no fees or minimums
  • No age minimum exists for opening a custodial IRA—even infants can open one if they have earned income
  • Earned income is required for any contributions—the amount must not exceed the child’s actual earned income for the year
  • Tax advantages are significant: Roth IRA contributions are tax-free and grow tax-free for retirement; early withdrawal of contributions (not earnings) is penalty-free
  • Fidelity offers an advantage in that custodial Roth IRA holdings don’t count against financial aid eligibility

Sources