Yes. They just need to have an adult on the account with them, usually mom or dad, but it can be a grandparent, aunt, uncle, or other adult. This kind of account is called a custodial account. The kid or teen (referred to as the minor) owns the stock, while the adult (the custodian) has legal responsibility over the account.
Kids and teens can set up their own log-in credentials (separate from the adult) so they can see how their stocks are doing anytime they want, without bugging mom or dad. They can also place stock trades with the adult’s consent.
For example, if a teen wants to buy $20 of Facebook stock, he sets up the transaction, which is routed by email to mom for approval. If mom approves, the trade goes to market and executes.
Once the minor is of age, the assets in the custodial account legally belong to the minor. We can help them open an individual account and transfer the assets from the custodial account into the new individual account.
What will they do next? We think they will be thanking you profusely for having had the foresight to open a custodial account and invest in their future!