Starting your investment journey with American Century Investments is a smart move. They offer a variety of account options tailored to your goals. Whether you’re planning for retirement, saving for education, or building wealth, you’ll find the right fit. You can access retirement accounts with tax benefits, flexible education savings plans, and even brokerage services for stocks and ETFs. Plus, their investment specialists are ready to help. It’s all about giving you the tools to grow your money and secure your future. Ready to take control of your financial goals?
Key Takeaways
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Collect all your personal and money details before applying. This includes your name, address, and ID number for an easy process.
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Pick the account type that fits your money goals. Choices include retirement, school savings, or general investing accounts made for you.
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Fill out the online form, upload papers, and check your info. This is fast and takes about 15–20 minutes.
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Add money to your account once it’s open. You can move money from your bank, set up auto-pay, or mail a check to start.
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Check your investments often to match them with your goals. Use tools to help manage your account well.
Step 1: Gather the Required Information
Before you start your application with American Century Investments, make sure you have all the necessary details ready. This step will save you time and ensure a smooth process. Here’s what you’ll need:
Personal and Financial Details
You’ll need to provide some basic personal and financial information. This includes your full name, date of birth, and residential address. If you’re opening an account for a business or entity, you’ll need the date of formation and business address instead. You’ll also need a taxpayer identification number if you’re a U.S. citizen, or a passport number or other government-issued ID if you’re not.
Here’s a quick overview of the required details:
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Required Information |
Description |
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Name |
Full name of the individual or entity |
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Date of Birth |
For individuals, the date of birth; for entities, the date of formation |
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Address |
Residential or business street address; or alternative addresses for those without a permanent address |
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Identification Number |
Taxpayer identification number for U.S. persons; passport number or other government-issued ID for non-U.S. persons |
Having this information handy will make the application process much easier.
Identification Documents
To verify your identity, you’ll need to upload or provide specific documents. For U.S. citizens, this typically includes a government-issued ID like a driver’s license or passport. Non-U.S. citizens may need to provide a passport or another form of official identification. Make sure your documents are valid and up-to-date to avoid delays.
Minimum Investment Requirements
American Century Investments needs a $2,500 initial investment to start a brokerage account. You must also keep this amount in your account. Make sure you have this money ready to fund your account when it’s set up.
Tip: Double-check your information and documents before starting the application. This will help you avoid any unnecessary back-and-forth during the process.
By preparing these details ahead of time, you’ll be ready to choose the right account type next.
Step 2: Choose the Right Account Type
Choosing the right account type is key in your investment journey. American Century Investments offers various account options for different financial goals. Let’s explore your choices and find the best one for you.
Available Account Options
There are several account types to help you reach specific goals. Here’s a quick overview:
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Account Type |
Description |
|---|---|
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Individual Retirement Accounts (IRAs) |
Tax benefits from personal investment accounts while saving for retirement. |
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Workplace Retirement Plans for Participants |
Benefits of employer’s American Century workplace retirement plan. |
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Retirement Plans for Small Business Owners |
Retirement options designed for small business owners and their employees. |
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General Investing |
Individual or joint accounts to work toward any investing goal. |
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Legacy Planning & Inheritance |
Trust and transfer-on-death (TOD) accounts to ensure financial wishes are carried out. |
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Education Accounts |
Save for college or other educational needs for yourself or others. |
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Custodial Accounts for Minors |
Flexible accounts that can be used to invest for any purpose for minors. |
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Brokerage |
Access to American Century ETFs and over 10,000 mutual funds from other families, stocks, bonds, etc. |
Each account type has a unique purpose. Whether you’re saving for retirement, planning for a child’s education, or building wealth, there’s an option for you.
Factors to Consider
When choosing an account, think about your financial goals and timeline. Are you saving for a long-term goal like retirement, or do you need a flexible account for general investing? If you’re a small business owner, retirement plans tailored to your business might be the best fit. For parents, education accounts or custodial accounts for minors can help you save for your child’s future.
Also, consider the tax benefits. Accounts like IRAs offer tax advantages that can help you save more over time. Understanding these factors will guide you toward the right choice.
Using Tools and Resources
American Century Investments provides tools and resources to make your decision easier. Their account comparison tools help you evaluate options based on your goals. For example, if you’re unsure whether to open a retirement or general investing account, these tools can clarify the differences.
Here’s a snapshot of the resources available:
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Account Type |
Purpose |
|---|---|
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Investment Account Types |
Help users reach unique investing goals |
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Retirement Accounts |
Solutions for individual investors and small business owners |
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General Investing |
Open individual or joint accounts for various goals |
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Education Accounts |
Save for educational needs for yourself or others |
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Brokerage Accounts |
Access to ETFs, mutual funds, stocks, and bonds |
You can also reach out to their investment specialists for personalized guidance. They’ll help you navigate your options and choose the account that aligns with your financial goals.
Tip: Take your time to explore the options and use the resources available. A little research now can save you time and money later.
Once you’ve chosen the right account type, you’re ready to move on to the final step: completing the application process.
Step 3: Complete the Application Process
Now that you’ve gathered your information and chosen the right account type, it’s time to complete the application process. Don’t worry—it’s straightforward and user-friendly. Let’s break it down step by step.
Online Application Steps
The easiest way to open your account is through the online application. Here’s how you can do it:
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Visit the Website: Go to the official American Century Investments website and click on the “Open an Account” button.
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Select Your Account Type: Choose the account type you decided on earlier.
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Fill Out the Form: Enter your personal and financial details. This includes your name, address, and identification number.
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Upload Documents: Attach the required identification documents. Make sure they’re clear and valid.
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Review and Confirm: Double-check all the information you’ve entered. Then, submit your application.
The online process is quick and secure. You can complete it in about 15–20 minutes if you have everything ready.
Submitting and Verifying Your Application
Once you’ve submitted your application, the verification process begins. American Century Investments will review your details and documents to confirm your identity. This step is critical for security and compliance.
You might receive an email or notification asking for additional information. Respond promptly to avoid delays. Most applications are approved within a few business days. Once verified, you’ll receive instructions on how to fund your account and start investing.
Tip: Keep an eye on your email inbox (and spam folder) for updates about your application status.
Alternative Application Methods
If you prefer not to apply online, you have other options. You can download the application form from the website, fill it out, and mail it to the address provided. Or, you can call their customer service team to request a paper application.
For those who need extra help, customer support can guide you through the process over the phone. This is a great option if you have questions or need clarification.
Note: While these methods work, they may take longer than the online application. Choose the one that fits your comfort level and timeline.
By completing this step, you’re officially on your way to achieving your financial goals with American Century Investments.
Tips for a Smooth Account Opening Process
Opening an account doesn’t have to be stressful. With a little preparation and attention to detail, you can make the process seamless. Here are some tips to help you along the way.
Double-Check Your Information
Before you submit your application, take a moment to review it. Typos in your name or address can slow things down. Make sure your ID numbers match your documents.
Also, check that any uploaded files are clear and easy to read. Many people miss small errors, but these can cause delays. Double-checking now saves you time later and ensures your application is processed smoothly.
Prepare for Identity Verification
Identity verification is a key step when opening an account. To avoid delays, have your documents ready before starting. A valid government-issued ID, like a driver’s license or passport, is usually required.
If you’re a non-U.S. citizen, ensure your passport or other official ID is up-to-date. Some users get stuck because their documents don’t meet the requirements. Make sure your files are in the correct format and not expired.
Use Customer Support if Needed
If you hit a roadblock, don’t hesitate to reach out for help. American Century Investments offers customer support to guide you through the process. Whether you have questions about forms or need clarification on account types, their team is there for you.
You can also use their online tools to troubleshoot common issues. For example, if you need to pause your application, look for a “save and resume” option. This feature lets you pick up where you left off without starting over.
Pro Tip: If you abandon your application, you might receive follow-up emails to help you complete it. Keep an eye on your inbox for these helpful reminders.
By following these tips, you’ll avoid common mistakes and ensure a smooth account opening experience.
What to Do After Opening Your Account
Congratulations! Your account is open, and you’re ready to take the next steps. Here’s what you need to do to get started on your investment journey.
Fund Your Account
The first thing you’ll need to do is add money to your account. This step is simple and can be done in a few ways. You can transfer funds directly from your bank account, set up automatic contributions, or mail a check if you prefer.
If you’re transferring from another brokerage, you might need to fill out a transfer form. This process could take a few days, so plan ahead. Once your account is funded, you’ll be ready to start investing.
Tip: Setting up automatic contributions is a great way to stay consistent with your investing goals.
Start Investing
Now comes the exciting part—investing! With American Century Investments, you have access to a wide range of options. You can choose mutual funds, ETFs, stocks, or bonds based on your financial goals.
If you’re unsure where to start, consider using their online tools or speaking with an investment specialist. They can help you create a strategy that aligns with your objectives. Whether you’re saving for retirement or building wealth, there’s an investment option for you.
Pro Tip: Diversify your investments to reduce risk and maximize your returns.
Monitor and Manage Your Investments
After starting to invest, it’s key to watch your portfolio. American Century Investments offers tools to help you stay on track. For example:
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Target-Date Blueprint: This tool helps you evaluate target-date fund options and organize your investment strategy.
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Organizes DOL Tips: It simplifies Department of Labor guidelines into actionable steps for fiduciaries.
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Prudent Selection Process: This feature enhances documentation for fund selection, reducing possible risks.
Regularly reviewing your investments ensures they align with your goals. Adjust your strategy as needed to stay on course.
Reminder: Check your portfolio periodically, but avoid making impulsive changes based on short-term market fluctuations.
By funding your account, starting your investments, and monitoring them regularly, you’ll be well on your way to achieving your financial goals.
Opening an account with American Century Investments is simple when you follow these three steps. First, gather your personal and financial details. Then, choose an account type that fits your goals, like retirement, education, or general investing. Lastly, complete the application process online or through other methods.
You’ll gain access to trading options like stocks, bonds, and ETFs, plus professional assistance at no extra cost. Whether you’re saving for retirement or building wealth, this is your chance to take control of your financial future. Start today!
FAQ
What if I don’t meet the minimum investment requirement?
Don’t worry! You can explore other account options with lower minimums, like retirement or education accounts. Check their website or contact customer support for specific details. They’ll help you find an option that works for your budget.
How long does it take to open an account?
The online application process usually takes 15–20 minutes. After submission, account verification typically takes a few business days. If you provide all the required documents upfront, you’ll speed things up and avoid delays.
Can I open an account if I’m not a U.S. citizen?
Yes, you can! You’ll need a valid passport or another government-issued ID for identity verification. Make sure your documents are current and meet the requirements. If you’re unsure, reach out to their support team for guidance.
Is there a fee to open an account?
No, there’s no fee to open an account. But, you’ll need to meet the minimum investment requirement for certain account types. Be sure to review the terms for your chosen account to avoid surprises.
What happens if I make a mistake on my application?
Mistakes happen! If you notice an error after submitting your application, contact customer support immediately. They’ll guide you on how to correct it. Double-checking your information before submission can help you avoid this issue.