Acorns has a new way to get investors in the market -- start teaching them about investing as children.
The program, called Acorns Early, was launched Tuesday, June 30.
"With Early, a UGMA/UTMA account, Acorns financial wellness system now provides the tools to save and invest beginning at any age. Early funds can be used for anything that benefits the child, and custodians may see tax advantages while they invest, before easily transferring the account when the child is an adult. Acorns Early features automated Recurring Investments, an interactive Potential graph to view the power of compounding, exclusive Found Money offers, and custom financial literacy content, developed in partnership with CNBC. As part of the release, Acorns has introduced a $5 monthly tier, Acorns Family. Customers in this tier get Acorns Early, plus all-in-one investing, retirement, and checking accounts, Smart Deposit, personalized insurance options, and tools to earn more money. To support as many families as possible, Acorns will allow multiple children per Family account, at no added cost," the company wrote in a press release.
“We have always been guided by our mission to look after the financial best interests of the up-and-coming,” said Acorns CEO, Noah Kerner. “If we begin as early as birth, we have the opportunity to change the financial outcomes of an entire generation.”
Kerner joined TheStreet to talk about Acorns Early and what it means for financial education.
Watch the full interview above for more.
You can follow Katherine Ross on Twitter at @byKatherineRoss.
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