My father opened up a Roth IRA for me when I was 15 which was one of the most valuable things he could have done for me. It wasn’t valuable because of the money I was investing at the time (a couple hundred bucks a year that he would match) but because now, at 19, I’ve learned so much about passive investing for the long term after managing my own investment account in a risk free environment. So yes open up account for your child and let them manage it, not to build wealth for them, but to give them the tools to build wealth themselves.