(Bloomberg) — Wealthfront Corp. is rolling out a custodial account for parents who want to set their kids on an investing path at an early age. 

The product, which is an automated investment account, is one of several new offerings from financial services companies targeting parents who want their kids to have a nest egg early. The product allows parents to put money into a diversified portfolio of exchange-traded funds. From there, they can choose from a conservative, moderate and aggressive mix of investments. The account also comes with automatic tax-gain harvesting, which is worth up to $1,350 in tax-free growth each year, the company said. 

Parents manage the account until their child reaches adulthood, which can be between…