Wanted to setup a 529 account for my nephew (1 years old) and then make annual contributions each year as a Christmas or birthday gift. Is there any best way to set this up? Mommy and daddy will be the holders of the account.

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Keep in mind you could also set up the account in your own name, & The beneficiary can change that any time down the road.
It’s an option if the parents are less financially savvy or if you want to keep a little more control on it 

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Would probably go direct sold rather than fidelity or others to avoid fees. If you all live in the same state and it has state tax advantages for 529 probably want to look at your state’s 529 plan. Otherwise can do the Vanguard (Nevada) or other states with low fees.

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I think you can always do this with Fidelity

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