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Setting up joint accounts

Joint accounts let you and a co-owner co-manage investments with separate logins. Learn how to set one up and how ownership types like JTWROS work.

What are joint accounts?

On Frec, joint accounts allow two people to co-manage their investments while maintaining separate logins. This means you and your co-owner can access and manage the same portfolio while maintaining individual account security.

Benefits of joint accounts

There are several reasons why an individual may want to set up a joint account:

  • Simplified portfolio management: Manage all your shared investments in one place
  • Maintain independence: Each owner gets their own secure login
  • Convenient access: Each owner can deposit or withdraw funds as needed

How do I set up a joint account?

What you need before setting up a joint account

Before you set up a joint account, please have the following information ready:

  1. For you (initiator)
    • Basic personal information
    • Co-owner's name, email, and address
  2. For your co-owner
    • The initiator's date of birth (for security verification)
    • Their basic personal information

Steps to setting up a joint account

For you (initiator):

  1. Go to Frec’s sign-up page.
  2. Create an account with your email and password.
  3. Choose “Joint Account” as your account type.
  4. Enter your personal details as prompted.
  5. When prompted, enter your co-owner’s personal details
  6. Once you finish onboarding, your co-owner will get an email to accept the invite to join.

For your co-owner:

  1. Check your email for an invitation from Frec.
  2. Click “Create Account” to get started. Note: You must use the link in the email to create a joint account with the initiator.
  3. Follow the steps to set up your account.
  4. When prompted, enter the initiator’s date of birth for security verification.
  5. Complete the rest of the onboarding process.

Once your co-owner completes onboarding, you will both receive an email notifying you that your joint account is ready.

Creating a joint account with an existing email on Frec

If you or your co-owner has an existing account with Frec, you can create a joint account by logging into the existing account and following these steps:

  1. Go to Account.
  2. Click “Add new account" toward the bottom.

If you want to move your assets from an existing individual account to a joint account, follow the steps above to open the joint account and then contact us for next steps. Your individual account will automatically close once all of your assets are moved into your joint account.

Joint account ownership types

Most joint accounts default to joint tenants with rights of survivorship (JTWROS). This means if one account holder passes away, the other inherits full ownership. If you’d like to open a Tenants in Common account, please contact us.

Exceptions

If you live in Louisiana, JTWROS is not recognized. Accounts default to tenants in common (50/50 split). Please contact us to adjust ownership percentages.

If you live in a community property state and are married, your account may also default to a 50/50 split.