Interactive Brokers - Friends and Family Advisor

Hi everyone,

It has been a while that I was looking for an easy solution to invest for my kids (2 and 6 years old). Last week I stumbled on the friends and family advisor account. As a user of Interactive Brokers, this looks very interesting.

Is there any user here of that feature? I would love feedbacks. As I have around 300kCHF on IB, I guess that the accounts for my kids would be free.

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I was considering it but finally decided to try Investart so that it’s something completely separated (I might pass the account to one of the kids when they reach appropriate age) and it also has 0 management fees.
I applied yesterday, let’s see how long does it take to have it up and running.

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I have set this up for my family last year to save on custody fees as I have quite a large portfolio which covers costs for the other participants (you need 100k * number of participants in the structure so that no one has to pay those fees). This works well to that respect but this is quite cumbersome to setup as the master account takes over trading permissions and needs to be amended to give them back to individual accounts. Setting this up properly is not easy given the user friendliness of IBKR…

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I tried to go this route to manage the family finances, however this is extremely cumbersome to set-up as each of the individual accounts need to have specific criterias that allow them to be managed through the F&F account.

As customer service was unable to allocate the accounts I had to give up.

In addition you need to have 100k in each account to avoid the fees.

I understand it that the total assets need to fullfill 100k*x accounts. So you can also have one with 190k and one with 10k and not pay any fees.

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This is correct, it does not matter where the money sits the requirement is at account structure level not at individual account level.

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