My Son's Birthday
My son turned two today. I set up a share trading account in trust for him recently through Commsec. It was a very easy process taking less than a week from start to finish and the bloke I spoke to on the phone was extremely helpful. I looked at using Direct Shares, but was told they don't offer such a service. Under 18s cannot trade shares in Australia and purchasing securities in my own name would have tax implications upon transfer. I purchased units in the iShares Edge MSCI World Multifactor ETF (ASX:WDMF) for him which invests in global equities based on value, quality, momentum and size factors. Hopefully he'll appreciate it one day, but right now all he cares about is his new musical car ramp.