Referral Terms & Conditions

By participating in the UNest Referral Program, you are agreeing to the following:

Definitions

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

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.

Brochure means the Wrap Fee Program Brochure that UNest files with the SEC on Part 2A of Form ADV and is available at: https://adviserinfo.sec.gov/

Custodian refers to the financial institution that is holding your securities.

Initial Shares means the shares that are purchased and held at Custodian, that a Referred Client purchases with the Minimum Amount.

Minimum Amount refers to the minimum amount you must deposit in order to open a UNest account. UNest requires referred client to enroll in a recurring plan with at least $25 in securities purchased per month.

Potential New Client means an individual (i) whom a Referring Client invites to open an UNest Account and (ii) who has never opened an UNest Account before being invited by the Referring Client to open a UNest Account.

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

Referring Client means a client of UNest who has entered into the Advisor 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 Amount means the referral incentive amount as indicated in the relevant referral promotion.

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

Reward Shares are shares earned when a Referred Client enters into an Advisor Agreement with UNest and deposits the Minimum Amount into their UNest account.

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.

The UNest referral program is open to all United States legal residents or citizens that currently reside in the United States. Exceptions are made for active Armed Services personnel that maintain a U.S. address and are temporarily overseas in connection with their service.

U-Nest Holdings, Inc. (“UNest”) is an investment adviser registered with the U.S. Securities and Exchange Commission. Referring Client means an investment advisory client of UNest who has entered into the UNest Advisor Agreement and decides to make referrals. In addition, this agreement uses the terms “you,” “your” or “yours” to refer to a Referring Client.

This Agreement is by and among UNest and each Referring Client subject to the terms and conditions of this Agreement.

By participating in the UNest Referral Program, you acknowledge and agree that you are a Referring Client 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 in Section 9.

Reward Shares for Referrals

After each Referred Client you invited to open a UNest Account deposit the minimum amount of $25 and maintains the Initial Shares in an UNest Account for the minimum time of 30 days, UNest will credit your UNest Account with the amounts and types of Reward Shares that correspond to your Selected Portfolio and are collectively worth the Reward Amount at the timeshares are purchased on the Reward Date. You acknowledge and agree that, notwithstanding anything else in this Agreement or the Advisor 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 of $25 and maintains the Initial Shares in his or her UNest Account for at least the minimum time of 30 days; (iii) if UNest determines at its sole discretion that you have breached any term, condition, obligation, duty, covenant, undertaking, representation or warranty in this Agreement (see Section 3 below on Compliance; and (iv) unless you invite a client using the links UNest provides in the Application for Referrals. UNest, at its sole discretion, may make available certain promotions with different Reward Amounts to other UNest users or prospective users. These promotions, unless offered to you, shall have no bearing whatsoever on your Agreement or relationship with UNest.

Compliance

In connection with your participation in the Referral Program, you agree to the restrictions listed below.

  1. No spam – You agree that you will not “spam” anyone with Referrals to join UNest either by mass emailing, use of automated systems, bots or automatic dialers and to not post Referral links on websites or events or venue pages without express consent from the owner. You agree to not engage in any device or scheme that results in “spam.”
  2. No misrepresentations – You agree that you will not attempt to mislead anyone in connection with the Referral Program. This includes, but is not limited to, creating fake accounts, profiles, links or messages.
  3. No prohibited content – You agree that you will not use any defamatory, offensive, abusive or obscene content in connection with UNest. This includes, but is not limited to, content that violates someone else’s privacy or harassing content.
  4. No fraudulent activity – You agree not to defraud or abuse, or attempt to defraud or abuse, anyone in connection with the Referral Program. You agree to not engage in any activity that may be fraudulent, deceptive or manipulative.
  5. No misuse of UNest’s content – You agree not to sell UNest Referral links or create websites, email addresses or social media with UNest’s name, images or content. UNest’s content is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject UNestor any of UNest’s products or services to any authorization, registration, licensing or notification requirements within any jurisdictions outside those jurisdictions in which UNest and its affiliates are licensed to operate. Violation of any of these restrictions may result in termination of your eligibility to participate in the Referral Program and may deny you any Referrals earned in violation or suspected violation of these restrictions at UNest’s sole discretion.
  6. UNest’s Registration. UNest 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 UNest 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. Dispute Resolution, including Pre-Dispute Arbitration Clause All controversies that may arise between you and UNest 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 UNest 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 Advisor Agreement except to the extent stated herein.
  9. Termination – you may terminate this Agreement at any time by notifying UNest in writing at support@unestapp.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. UNest may terminate this Agreement at any time by notifying you at the email you have provided UNest in connection with your UNest Account. If UNest terminates this Agreement and you have not breached this Agreement, UNest 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 Shares in the Referred Client’s UNest Account for the Minimum Time.
  10. Miscellaneous – the provisions of the Advisor 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 Advisor Agreement.

 

By participating in the UNest Referral Program, you undertake to perform your duties under this Agreement in a manner consistent with this Agreement, any and all of UNest’s instructions to you and the provisions of the Act and the Rules. You agree to seek guidance promptly from UNest 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.

May 2020 Referral Bonus Terms – $100 for 3 UNest Referrals

Referrals must sign up on or after 05/01/2020 and have a verified account in good standing and make a minimum investment of $25 into their UNest 529 account before 05/31/2020. Bonuses are paid out by 06/15/2020. Referees and Referrers who close their account before 06/15/2020, make an investment that results in a reversal from their bank, or accounts that are otherwise not in good standing will not qualify for the promotion.  Referral awards are made at the sole discretion of UNest.  All referrals must be made in accordance with the UNest Referral Agreement and Referral Promotion Terms and Conditions.

You may make a withdrawal on principal from your UNest account at any time; however, the $100 bonus will not be eligible for withdrawal for 90 days from the date it was paid. Accounts that are otherwise not in good standing will not qualify for the promotion. This can include not passing AML or KYC requirements or providing invalid banking information. This $10 gift is made at the sole discretion of UNest. All investments must be made in accordance with the UNest terms and conditions.

Referral bonuses are a limited time offer. Rewards are in the form of a purchase of investments in your UNest account. Investments are purchased once your account is approved and you have completed your first investment. UNest defines an account in good standing as a verified account with a successful investment. UNest reserves the right to restrict or revoke this offer at any time. Reward amount subject to change at the discretion of U-Nest Holdings Inc.

These terms were created by U-Nest Holdings, Inc., an SEC Registered Investment Advisor and a member of FINRA. U-Nest does not provide investment advice on investments that are guaranteed by a bank or otherwise, or that are FDIC-insured. Investing involves risk and investments may lose value. Please consider your objectives, 529 plan tax considerations, and U-Nest pricing before investing. Past performance does not guarantee future results. Investment outcomes and projections are hypothetical in nature. U-Nest does not provide brokerage services. See U-Nest Brochure for additional information about risks. Read more important disclosures.

 

 
 

Ksenia Yudina, CFA, MBA

Founder and CEO

Ksenia is the Founder and CEO of U-Nest, the first mobile app that makes it easy for families to save for college. As an entrepreneur and finance professional, Ksenia has focused on alleviating the impact of student debt on families across the economic spectrum. Previously, Ksenia was a Vice President atCapital Group/American Funds, the largest 529 provider in the U.S. In this role, she played a leadership role in helping parents plan and manage their finances, with a focus on the future well-being of their children. Prior to Capital Group/American Funds, she was founder of a residential real estate company. Ksenia earned her bachelor’s degree in finance from CaliforniaState University Northridge, and an MBA from UCLA’s Anderson School of Management.

Mike Van Kempen

Chief Operating Officer

Mike joined U-Nest in September 2019 as COO. He was previously at Acorns, a financial wellness platform, where he spearheaded the analytics and growth initiatives. Mike successfully expandedAcorns’ paid acquisition strategy, adding over 4.5 million investment accounts. Mike began his career in strategy & analytics at Belly, a Chicago-based loyalty startup in 2012. At Belly, Mike led projects that fueled growth across all aspects of the business, growing the customer base from1,000 to over 11,000 merchants, and accumulating a membership of over 2 million customers.Mike holds a B.B.A. in Finance from Loyola University of Chicago.

Steve Buchanan

Chief Technology Officer

Steve has over 20 years of experience in delivering digital innovations in the financial sector. Steve previously orchestrated product architecture and innovation as a Solutions Architect/ Fintech consultant at Union Bank. Prior to Union Bank, he was Chief Architect and Director of Engineering at Calypso, a Silicon Valley startup, where he architected and built multiple financial solutions. He was also Head of Global Integrations at Globe One in Vietnam where he integrated its Peer-to-Peer lending products into core banking solutions. Steve also built the first ever electronic Equities &Equity Options trading systems for Scottish stock brokers Wood Mackenzie (acquired by CountyNatWest). He is a graduate of Edinburgh University.

Peter Mansfield

Chief Marketing Officer

Peter has built an impressive track record in multiple financial industry segments including payments, credit/prepaid cards and lending. He has played an instrumental role at a succession of financial industry leaders, co-founding companies such as Brand3 (acquired by American Express) and PropertyBridge (acquired by Moneygram), and, as the early stage marketing lead at Marqeta (where he was team member number two), BillFloat and WallabyFinancial (acquired by Bankrate).He has helped fast-growth companies reach an aggregate market value of close to $8 billion. Peter holds a bachelor’s degree in economics from the University of Angila, UK.

Sonya Kidman

Client Relationship Manager

Sonya Kidman is a Customer Success professional with a decade of experience in advocating for consumer through user research and genuine empathy. Sonya specializes in user behavior and regularly attends national and global training sessions in wellness and people analytics tools. Sonya is a true global citizen was born in Russia, grew up in Israel, lived and worked in Canada and NewZealand. That global expertise along with an undergraduate degree in Sociology from Tel AvivUniversity have helped to shape a bullet-prof Sonya's framework to develop a winning customer strategy.

Frank Mastrangelo

Board Member

One part banker and one part technologist, Frank spent his early days with the Annenberg Foundation and PNC Bank. His career path led him to Jefferson Bank, where he led the build-out of its electronic banking platforms, and where he would forge a powerful alliance with The Bancorp co-founder Betsy Z. Cohen. As President and COO of The Bancorp from its inception in 1999 Frank played a critical role in helping the organization become an industry bellwether for branchless financial services and a global leader in payments. For this, he has become a widely respected fintech expert, and thought-leader. Frank was recognized in 2013 by Banking Innovation, a leading industry journal, as an “Innovator to Watch.” and as one of the innovators shaping the future of banking. Frank is a graduate of West Chester University of Pennsylvania.

Disclosure

College Savings Calculator is a hypothetical tool that demonstrates how monthly contributions, age-based asset rebalancing, and tax savings may impact the long-term value of your account, and do not take into account a portfolio’s underlying investment management fees. Calculations assume the private institution cost inflation is 2.8%, public out of state cost inflation is 3.9%, public in state cost inflation is 2.7%. Portfolio is assumed to have only stocks and bonds. Monthly equity returns are based on the historical data from the 10-year track record of the stock market (SPY). Monthly fixed income returns are based on the historical data from the 10-year track record of the bond market index (AGG). The current college expenses are provided by the collegeboard.org. Actual account performance may differ due to market fluctuations, changes in recurring investments, and asset allocation. The information provided here is for illustrative purposes only and does not represent actual or future performance of any investment option and is not intended to predict or project the investment performance of any security or index.