Personal Finance

When Can You Withdraw From a UTMA Account?

Category: Personal Finance

The Uniform Transfers to Minors Act is a uniform code adopted by most states. Before adoption of the UTMA provisions, a special trust had to be created to allow a minor to own securities and other investments. With a UTMA, an adult can transfer assets to a minor without the expense and hassle of needing an attorney to draft a trust.

What Is the Difference Between a Broker Dealer & an Investment Advisor?

Category: Personal Finance

Broker-dealers and investment advisors are two different kinds of securities firms, even though most investors are unaware of the distinction. The firms are governed by different laws and offer different protections for clients. Investors should know these distinctions.