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Disclosures

Welcome to the Acorns site, operated by Acorns Advisers, LLC ("Acorns"). Andrew Stutz referred you to us and will be compensated. If you register for an Acorns Account and your Acorns account is approved we will credit $5 of investments to your Acorns Account and Andrew Stutz’s Acorns Account. You will not be charged for the cost of what we pay to obtain your account or any differential from the fees we charge clients come to us on their own without being referred by a friend.

More information about our program is available in the Brochure, which you’ll be able to access and read or print whenever you want on our site, through our app or through the SEC. By clicking the button above, you acknowledge receipt of this information and the Brochure.

Referral Agreement

To participate in the Acorns referral program, please read and agree to the following.

This Agreement is by and among Acorns and each Acorns client who chooses to participate in Referrals, subject to the terms and conditions of this Agreement.

By clicking “I agree” at the bottom of this Agreement, you acknowledge and agree that you are a Referring Client, as defined below, and that you will have the rights of a Referring Client under this Agreement and be bound by the terms and conditions of this Agreement, including without limitation all of a Referring Client’s obligations, duties, covenants, undertakings representations and warranties below. This Agreement contains a pre-dispute arbitration clause in Section 9.

If you click “I agree” at the bottom of this Agreement, Acorns acknowledges and agrees that it will be bound by the terms and conditions of this Agreement, including without limitation all of Acorns’ obligations, duties, covenants, undertakings representations and warranties below.

1. Definitions

When the following capitalized terms are used above or below in this Agreement, the following definitions apply:

Acorns means Acorns Advisers, LLC.

Acorns Account has the same meaning in this Agreement as it does in the Program Agreement.

Act means the Investment Advisers Act of 1940, as amended. The Act is in the U.S. Code at 15 U.S.C. §§80b-1 and the following sections and is available for your reference at

Application has the same meaning in this Agreement as it does in the Program Agreement.

Brochure means the Wrap Fee Program Brochure that Acorns files with the SEC on Part 2A of Form ADV and is available at www.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=394612

Business Day has the same meaning in this Agreement as it does in the Program Agreement.

Custodian has the same meaning in this Agreement as it does in the Program Agreement.

Disclosure means the disclosure screen Potential New Clients will see after being referred by a Referring Client and before opening an Acorns Account.

Initial ETF Shares means the ETF Shares, as that term is defined the Program Agreement, that a Referred Client purchases with the Minimum Amount

Minimum Amount means the least amount of money that a Referred Client must deposit into his or her Acorns Account within 30 days of opening his or her Acorns Account in order for the Referring Client who invited that Referred Client to open his or her Acorns to receive Reward Shares for a Referral. The Minimum Amount is $5 with the option to waive this Minimum Amount at the discretion of Acorns .

Minimum Time means the least amount of time that a Referred Client maintains the Initial ETF Shares in his or her Acorns Account after the initial deposit into his or her Acorns Account in order for the Referring Client who invited that Referred Client to open his or her Acorns to receive Reward Shares for a Referral. The Minimum Time is 30 days with the option to waive this Minimum Amount at the discretion of Acorns.

Potential New Client means an individual (i) whom a Referring Client, using social media or other functionality provided by Acorns in connection with a Referral, invites to open an Acorns Account and (ii) who has never opened an Acorns Account before being invited by a Referring Client to open an Acorns Account.

Program Agreement means the Acorns Program Client Agreement, including the Investment Advisory Agreement and other attachments to the Acorns Program Client Agreement.

Referred Client means a Potential New Client who has (i) entered into the Investment Advisory Agreement that is Attachment A to the Program Agreement and (ii) been accepted (and not rejected) by the Custodian as a customer.

Referral means the invitation of a Potential New Client to open an Acorns Account by a Referring Client using the links Acorns provides in the Application for Referrals.

Referring Client means an investment advisory client of Acorns who has entered into the Investment Advisory Agreement that is Attachment A to the Program Agreement and decides to make Referrals. In addition, this agreement uses the terms “you,” “your” or “yours” to mean a Referring Client or a Referring Client’s.

Reward Date means the date when Acorns credits Reward Shares earned by a Referring Client in accordance with the terms and conditions of this Agreement to the Referring Client’s Acorns Account.

Reward Shares has the same meaning in this Agreement as it does in the Program Agreement.

Rules means the SEC’s rules under the Act. The SEC’s rules under the Act are in the Code of Federal Regulations at 17 C.F.R. Part 275 and are available for your reference at

SEC means the Securities and Exchange Commission.

Selected Portfolio has the same meaning in this Agreement as it does in the Program Agreement.

2. Reward Shares for Referrals

After each Referred Client you invited to open an Acorns Account deposits the Minimum Amount and maintains the Initial ETF Shares in an Acorns Account for the Minimum Time, Acorns will credit your Acorns Account with the amounts and types of Reward Shares that correspond to your Selected Portfolio and are collectively worth $5 at the time shares are purchased on the Reward Date. You acknowledge and agree that, notwithstanding anything else in this Agreement or the Program Agreement, you shall not be entitled to any Reward Shares for a Referral (i) unless and until the Potential New Client is accepted as a Referred Client; (ii) unless and until the Referred Client invests the Minimum Amount and maintains the Initial ETF Shares in his or her Acorns Account for at least the Minimum Time; (iii) if Acorns determines in good faith that you have breached any term, condition, obligation, duty, covenant, undertaking, representation or warranty in this Agreement; and (iv) unless you invite a client using the links Acorns provides in the Application for Referrals.

3. Compliance

You covenant that you will not: employ any device, scheme, or artifice to defraud any Potential New Client or Referred Client; engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any Potential New Client or Referred Client; or engage in any other act, practice, or course of business in connection with Referrals that is fraudulent, deceptive, or manipulative. Without limiting the generality of the preceding sentence, you covenant that you shall not misstate any material fact about Acorns, an Acorns Account or Referrals to any Potential New Client or Referred Client and shall not omit to state any fact necessary to keep a statement you make to about Acorns, an Acorns Account or Referrals to any Potential New Client or Referred Client from being misleading.

By entering into this Agreement by clicking “I Agree” below, you undertake to perform your duties under this Agreement in a manner consistent with this Agreement, any and all of Acorns’ instructions to you, and the provisions of the Act and the Rules. You agree to seek guidance promptly from Acorns if you are in doubt about what the Act or the Rules allow or do not allow you to say or do in connection with Referrals.

4. Disclosure

You acknowledge and agree that, before Acorns presents a Potential New Client invited by you with the opportunity to enter into the Program Agreement, the Potential New Client will be shown the Disclosure, which shall contain the following information:

  • Your name
  • Acorns’ full legal name, i.e., Acorns Advisers, LLC
  • the nature of your relationship with Acorns as a Referring Client under this Agreement
  • a statement that you will be compensated for inviting the Potential New Client
  • the terms of our compensation arrangement with you under this Agreement, including the conditions involving the investment of the Minimum Amount and maintenance of the Initial ETF Shares for the Minimum Time and a description of the Reward Shares that we will credit to your Acorns Account if the conditions are met; and
  • the fact that the Referred Client will not be charged any amount for the cost of any Reward Shares we credit to your Acorns Account or any differential in advisory fees attributable to the existence of Acorns’ arrangement with you under this Agreement.

Acorns agrees to provide the Disclosure, as described in this Section 4.

5. Brochure

You acknowledge and agree that, before Acorns presents a Potential New Client invited by you with the opportunity to enter into the Program Agreement, the Potential New Client will be presented with a link to the most recently filed version of the Brochure and required to provide an acknowledgement that the Potential New Client has received the Brochure. Acorns agrees to provide the Brochure and obtain the Potential New Client’s acknowledgment of having received the Brochure, as described in this Section 5.

6. Acorns’ Registration

Acorns represents and warrants to you that it is registered with the SEC under the Act as an investment adviser.

7. Legal and Regulatory History

You represent and warrant to Acorns that you are not a person: (A) subject to an SEC order issued under section 203(f) of the Act, or (B) convicted within the previous ten years of any felony or misdemeanor involving conduct described in section 203(e)(2)(A) through (D) of the Act, or (C) who has been found by the SEC to have engaged, or has been convicted of engaging, in any of the conduct specified in paragraphs (1), (5) or (6) of section 203(e) of the Act, or (D) is subject to an order, judgment or decree described in section 203(e)(4) of the Act.

8. Relationship to Program Agreement

You acknowledge and agree that all Reward Shares credited to you under this Agreement for Referrals are subject to the terms and conditions of the Program Agreement relating to Reward Shares. To the limited extent the express terms and conditions of this Agreement and those of the Program Agreement directly conflict, this Agreement shall govern.

9. Dispute Resolution, including Pre-Dispute Arbitration Clause

The arbitration provisions in Section 11.3 of the Program Agreement, which you, as a Referring Client, have already entered into, shall apply to this Agreement to the same extent as they apply to the Program Agreement.

All controversies that may arise between you and Acorns or between you and the Custodian concerning any subject matter, issue, or circumstance whatsoever (including controversies concerning any account, order, or transaction, or the continuation, performance, interpretation, or breach of this, the other Agreements, or any other agreement between you and Acorns or the Custodian, whether entered into or arising before, on, or after the date this account is opened) shall be determined by binding arbitration through the Financial Industry Regulatory Authority (“FINRA”). You acknowledge that judgment upon any arbitration award may be entered in any court of competent jurisdiction.

No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Program Agreement except to the extent stated herein.

10. Termination

You may terminate this Agreement at any time by notifying Acorns in writing at support@acorns.com that you no longer desire to make Referrals or to receive Reward Shares for Referrals. Upon termination you will no longer be a Referring Client. Acorns may terminate this Agreement at any time by notifying you at the email you have provided Acorns in connection with your Acorns Account. If Acorns terminates this Agreement and you have not breached this Agreement, Acorns will credit your Account with any Reward Shares you have earned from Referrals in which the Referred Client has, before we notified you that we terminated this Agreement with you, maintained the Initial ETF Shares in the Referred Client’s Acorns Account for the Minimum Time.

11. Miscellaneous

The provisions in Section 11 of the Program Agreement, which you, as a Referring Client, have already entered into, shall apply to this Agreement to the same extent as they apply to the Program Agreement.

This website is operated by Acorns Advisers, LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, an SEC registered broker-dealer and member FINRA/SIPC. Investments are not FDIC insured and may lose value. Investing involves risk and investments may lose value. Please consider your objectives and Acorns fees before investing. Past performance does not guarantee future results. Investment outcomes and projections are hypothetical in nature. Limited time offer. Rewards are in the form of a purchase of investments in your Acorns portfolio. Shares are purchased once your friend’s account is approved. The maximum amount rewarded to you by Acorns (across all promotions) is $100 per calendar year. To be eligible for the reward, the person you refer must use your personal invitation code when they sign up. Acorns reserves the right to restrict or revoke this offer at any time. "Acorns" and "Invest the Change" are registered trademarks of Acorns Grow, Inc.
© 2016 Acorns