The account option for expectant parents does not require a child to have a Social Security number, meaning that parents get a head start on building a nest egg for their child’s future through saving, investing, gifts from family or friends and rewards from national brands. In addition, UNest will offer a $25 signup bonus to all expectant parents who open an account with the promo code FUTURECHILD25 throughout the month of March 2023.
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The pilot program saw significant uptake, with 15% of new accounts on the platform now belonging to expectant parents. The accounts, similar to UNest’s offering for existing parents, can be set up in five minutes or less, enabling parents-to-be to create positive financial saving habits that will last for a child’s lifetime. Features like UNest Gifting are also active, giving family members and friends the opportunity to easily contribute as a baby shower gift.
“Expectant parents are often overwhelmed with physical gifts or worries about how they will take care of their child as the child gets older. UNest accounts provide an option for friends and family to give a meaningful gift that could transform a baby’s future and the peace of mind for parents to know they have taken important steps to save and invest for their child,” said Ksenia Yudina, CEO and founder of UNest.
Ksenia added, “We are proud to extend our offering to these parents who understand the importance of a sound financial foundation for their children even at these earliest stages.”
The UNest parents-to-be UGMA/UTMA account enables both saving and investing features with as little as $5 a month in recurring deposits. Parents have the option to invest in traditional ETFs as well as green funds. Family and friends can also easily set up recurring contributions or one-time gifts to give parents a headstart on building a better financial future for their baby. Finally, parents can earn rewards from over 150 brands, including DoorDash, Disney+, Nike and Haven Life.
Since its market launch in 2020 UNest has helped over 600,000 parents and kids build a lasting financial legacy for their families. Parents are able to use the app, available on both the App Store and Google Play, to set up and manage their kids’ accounts.
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UNest is a purpose-driven fintech company empowering parents to invest and save for their kids’ future. Since launching in February of 2020, UNest has helped tens of thousands of families give their children a financial head-start and road map. Opening a UNest Investment Account for Kids requires no paperwork and takes just five minutes to set up through its award-winning app. UNest leadership team includes senior team members from MoneyLion, Marqeta, Investor.com, and Capital Group. The North Hollywood company is backed by leading investors including Anthos, The Artemis Fund, Franklin Templeton, Altair Capital, Launchpad Capital, OneWay Ventures, Unlock Venture Partners, Northwestern Mutual Future Ventures, Bitfury, and NBA All-Star Baron Davis. UNest Securities LLC is a FINRA registered broker-dealer.
