Acorns is launching Acorns Early, a program geared toward getting the next generation to start taking a hands-on approach to personal finance as early as possible.
“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 explained in a press release.
Acorns CEO Noah Kerner joined TheStreet to talk about Acorns Early and the rise of the Robinhood investor.
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