IBKR family advisor account

D

dsa

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Interactive brokers have a account type for a family advisor through which you can manage the accounts belonging to your family.
Link - https://www.interactivebrokers.co.uk/en/index.php?f=46505

I manage accounts for me and my wife. I am planning to open a family advisor account so that I can manage both the accounts through a single login. It is free and I did not see any additional charges being mentioned anywhere.

Has anyone already tried this or have an opinion about it? Any feedback is appreciated.

Thanks
 
When I thought about my child's account, I hesitate going this route. But I thought it would be too complicated. It's probably the ideal structure though.

In our case, we have a joint account, so things are easier to manage, and then my son's account is a sub-account, so we do everything from a single login account.

But it may be interesting to keep the accounts separated and have one master account.
 
I went ahead and created a family advisor account. It was super easy to create another account within my existing login and then connect my wife's account. There was no need to submit any additional documents.
 
In December I tried on SAXO to add sub-accounts for my kids, with the help of the support bots & staff. In the end it worked but the experience was quite awful. Or so I thought... Until I tried to do the same with IBKR, which is on a total different level. Never seen such a confusing platform before. It's not for the weak...
 
nikee said:
It's not for the weak...
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The difference is probably that the subaccount is actually a fully fledged account with all regulations and permissions in place. In many places, a subaccount is simply a space in the same account without any legal entity. I don't think it's very complicated, but it's definitely not trivial either.
 
Baptiste Wicht said:
The difference is probably that the subaccount is actually a fully fledged account with all regulations and permissions in place. In many places, a subaccount is simply a space in the same account without any legal entity. I don't think it's very complicated, but it's definitely not trivial either.
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Indeed. But since my kids are underage I would actually prefer IBKR to allow sub-accounts (like SAXO) or just having multiple portfolios per account, but apparently they don't do that.
 
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