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Are there any benefits to opening a Joint Account for the stock market?

July 23rd, 2010 | | Tags: , , | 3 Comments | |

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I am looking to investing in , and I want to have my friend do it with me; i.e, a joint account. Are there any benefits to having a joint account as opposed to a individual account? thanks

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3 Responses to “Are there any benefits to opening a Joint Account for the stock market?”

  1. GREG S Says:
     July 23rd, 2010 at 1:13 pm

    The costs are the same. 1) It may be more convenient to have either person available to make decisions if a stock needs to be bought or sold quickly and you don’t want to give your broker "discretionary power". What if one of you is out of town, sick, etc. 2) Inheritance is automatic in a joint account if one person dies.

    I may be out of line here, but I would think twice or thrice about having a potential future "ex-friend" on my investment account.

  2. Frank Castle Says:
     July 23rd, 2010 at 1:13 pm

    No.

  3. VJonDalalStreet Says:
     July 23rd, 2010 at 1:13 pm

    Joint account with a friend could be complicated in terms of taxation, source of income and most importantly judgement calls (When to buy or sell).

    Indian Financial portal providing information on

    - Which shares to buy
    - When to buy shares
    - When to exit shares
    - Which IPO to subscribe and which to ignore
    - Which NFO (New Mutual Fund) to enter

    http://www.vjondalalstreet.com
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