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UNest

Investment Account for Kids
Save. Invest. Earn rewards. And help your children achieve their future financial goals.

Overview

UNest is a fintech company that takes the stress out of investing for your children with its tax-advantaged custodial investment account for minors and innovative mobile app. It officially launched the mobile app and investment account in February of 2020 and has since served thousands of families to date.

The FINRA registered broker-dealer is backed by several industry leaders, including Northwestern Mutual Future Ventures, Launchpad Capital, The Artemis Fund and Franklin Templeton Investments.

How the UNest Tax-Advantaged Investment Account Works

The UNest Tax-Advantaged Investment Account lets you grow money for your child over time through investments. You can also open an account for any minor that’s 16 years of age or younger, even if they’re not related to you.

Here’s how it works:

  • Download the mobile app on your phone and open an account. It’s simple and takes five or so minutes of your time.
  • Select an investment option and monthly or bi-weekly contribution amount. There are five investment options to choose from, and the minimum monthly investment is $25 per month.
  • Monitor your account with the mobile app. You can also switch investment options, change the contribution amount and view detailed transaction activity.

Contributions are limited to $15,000 (or $30,000 for married couples) annually to steer clear of gift tax. You’ll get tax benefits on the first $2,200 in annual earnings on what you contribute- the first $1,100 enjoys tax-free growth, and the remaining $1,100 is subject to the kiddie tax. Any gains beyond the initial $2,200 are assessed tax at the parent’s rate. Be mindful that any contributions you make are not subject to taxation.

Beyond recurring monthly or bi-weekly contributions, these options also help you grow your child’s account:

  • Gifting: Invite family members and friends to contribute to your child’s account instead of sending gifts for special occasions and holidays. The minimum contribution for gifts is only $5, and funds can be sent via debit card, credit card or ACH bank transfer. (Note: Funds sent via ACH are assessed a gifting fee of 1% of the gift amount + $0.99.
  • UNest Rewards: Earn cashback that’s contributed directly to your UNest account when you shop with leading brands inside the mobile app. When you complete your purchase, funds are typically sent to your account in 7 to 10 business days.
  • Referrals: Give your UNest account an extra boost by spreading the word and earning a bonus in return. You’ll get $15 deposited into your UNest account each time someone you refer opens an account.

Funds are held in the account until your child reaches the age of majority in your respective state – generally between 18 and 25 years of age. When the minor gets access to the account, funds can be used for college, a big-ticket purchase, wedding expenses, a down payment on a car or home, or however your child sees fit.

UNest App: Manage Your Tax-Advantaged Investment Account

The UNest app is available on iOS and Android devices. It makes it easy to open and manage your account while on the go. It’s rated 4.8 and 4.9 stars on App Store and Google Play, respectively.

How Much Does It Cost?

UNest App Fee

It’s free to download the UNest App, but you’ll pay a monthly subscription fee when you open an account.

UNest Fees

However, UNest charges a monthly fee of $2.99 per child, or $5.98 for a family plan that covers up to five children. Both feature:

  • Streamlined account setup and management through the mobile app
  • Your choice of five investment options, one being age-based
  • The ability to invite family members and friends to contribute
  • UNest Rewards that help you grow your account just by shopping with your favorite brands
  • Access to a savings calculator to help you set a savings goal

Even better, you’ll never pay a monthly advisory fee to take advantage of what UNest has to offer.

UNest for Employers

Companies can partner with UNest to offer tax-advantaged custodial accounts to their employees. It’s a seamless process, and you’ll get a dedicated team and personalized support to foster the expansion of your company’s benefits package.

UNest App Reviews

UNest has a solid reputation online from past and current customers.

What Users Say About UNest App

  • UNest is a perfect option for parents & families to invest in their children. As a widow on a disability income, I didn’t know how I was going to be able to save for my child. When her father died suddenly, whatever money we had saved got used up faster than it took us to save it. I haven’t been able to replace it what we needed to take. UNest has given me a chance to at least try. Thank you!—Lynne-Ann Hunt (Android app customer)
  • UNest has been paramount in investing in my child’s future. As a new parent, I was looking for ways to secure my child’s future financial security. I’ve had to reach out to the client support team a few times, and they have been nothing but helpful! I want to highlight that it takes a bit of waiting to get to someone, as they work typical business hours and are a small team. Nonetheless, I feel really great about my choice to start a UNest account!—Tyler R. (iOS app customer)

FAQs About The UNest App (6)

  • What is UNest?

    UNest is a fintech company that offers a tax-advantaged custodial investment account for minors through its mobile app. You can open an account in just five minutes with the user-friendly app and start building your child’s financial future today.

  • Can you open an investment account for your kids?

    Yes, UNest allows you to open an investment account for your kids. UNest makes it easy to open an investment account for your children. You’ll get tax benefits and five investment options to choose from, and the fee is very affordable.

  • How to invest money for children's future with UNest?

    When you open a UNest account, you’ll be prompted to select the amount you wish to contribute each month. There’s a $25 minimum, so you can get started with that amount and work your way up as your budget permits if money is tight. You can also grow your account by inviting family and friends to contribute, earning UNest rewards when shopping with select brands and referring others to the platform.

  • What is the pricing of the UNest app?

    The UNest app is available for download free of charge. However, you’ll pay a monthly fee of $2.99 per child or $5.98 for the family plan for the tax-advantaged custodial account(s).

  • Is UNest a college fund app?

    No, UNest is not a college savings app and does not offer college savings plans. However, your child can use the funds in the account to cover higher education expenses, including tuition, fees, room and board.

  • Where can I download the UNest app?

    You can download the UNest app on your iOS or Android device. Access the link directly from the website, Google Play or the App Store.

UNest

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UNest Products and Services

Investing
Investing

Tax-Advantaged Investment Account for Kids

UNest takes the stress and guesswork out of investing for your children with its tax-advantaged investment account for kids, available through the UNest app. Start investing and building a better future for your children in as little as 5 minutes.

Learn more

For Employers

UNest also partners with companies to offer tax-advantaged investment accounts to their employees. This perk is the perfect way to expand your benefits package and show employees you care.

Learn more

Why Us

Flexibility

You'll get tax benefits while growing your money, and your children are free to use the funds however they see fit.

Convenience

UNest makes it easy to build your child's financial future with recurring contributions that are set up when you open a UNest investment account.

Personalization

Select one of five investment options to suit your needs, decide how much to contribute and make adjustments as your child ages or your goals change.

Video

Over $3 Million Invested This Year

SPOTLIGHT

Investments For Your Child’s Future Dreams

Invest in your kids by opening a UNest tax-advantaged investment account for your kids today. Easily manage your investments and savings using the mobile app: set up automatic deposits according to your budget, your portfolio adjusts based on your kids age and your can use your savings anyway you want.

Invest In Your Child's Future

Take the first step towards building a solid financial foundation for your children’s future. Download the UNest app today.

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