Vote? Not yet. Invest? Yes. Fidelity launches teen accounts

NEW YORK (AP) — Fidelity is launching a new type of account for teenagers to save, spend and invest their money. The account is for 13- to 17-year-olds, and it will allow them to deposit cash, have a debit card and trade stocks and funds. The teens can make their own trades through a simplified experience on Fidelity’s mobile app, with zero account fees or minimum balances, though the youth account requires a parent or guardian to have their own Fidelity account as well. It’s the latest step in a broad push by the industry to draw more first-time investors into the market.