Moving UGMA funds

[timmayg]

Hi

I've been contributing to a UGMA account for my child, for several years. My child is 9 years old. I am the custodian of the account.

The account is currently a money market account. I'd like to move most of that money into a mutual fund account, also UGMA. The money market is with a well know internet bank, and I'd like to open a Vanguard mutual fund account. Are there any restrictions \ liability issues?

Thanks for any advice.

[disneysteve]

I don't think there is any reason you can't move the money. Just keep in mind the minimum investment for most Vanguard funds is $3,000. Their STAR fund is only $1,000 (last time I checked). I don't know how much money you have to work with.