Shopping for shares for another person is the act of buying shares of an organization on behalf of one other particular person. This may be finished for a wide range of causes, reminiscent of gifting the inventory, investing on behalf of a minor, or managing the funds of an aged or disabled particular person.
There are a number of essential issues to bear in mind when shopping for inventory for another person. First, you will want to get their permission. Second, you will want to open a brokerage account of their identify. Third, you will want to determine how a lot inventory to purchase and which firm to put money into. Fourth, you will want to position an order to purchase the inventory. Fifth, you will want to switch the inventory to their account.