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THE FINE PRINT OF ACORNS

 * Terms of Use
 * Wrap Fee Brochure
 * Accessibility Statement
 * Path to $1,000,000
 * Harvest Terms and Conditions
 * Harvest Privacy Policy
 * Gift Card Terms
 * Referral Promotion Terms
 * Program Agreement
 * Cricket Terms and Conditions
 * Privacy Policy
 * Important Disclosures
 * Acorns on Social Media
 * Referral Agreement
 * Business Continuity Plan
 * Contests and Promotions
 * Protect Legal and State Licenses
 * Form CRS
 * MRDC Disclosure
 * Send Check Disclosure
 * Unaudited Statement of Financial Condition as of March 31, 2021
 * Audited Statement of Financial Condition as of September 30, 2021

Referral Agreement



June 2020

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

1. 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.

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.

Carrying Broker 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 Portfolio
Account.

ETF Shares have the same meaning in this Agreement as they do in the Program
Agreement.

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

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 become a new Acorns subscriber and open an Acorns Portfolio
Account and (ii) who has never subscribed to any Acorns products or services or
opened an Acorns Portfolio Account before being invited by the Referring Client.

Program Agreement means the Acorns Program Agreement, including the Investment
Advisory Agreement and other attachments to the Acorns Program 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 Carrying Broker as a customer.

Referral means the invitation of a Potential New Client to become an Acorns
subscriber and open an Acorns Portfolio 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.

Reward Amount means the referral incentive amount as indicated in the relevant
referral promotion.

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 Portfolio Account.  Such date will be on or
after the date that both the Referring Client and Referred Client meet the
eligibility criteria of the applicable referral promotion.

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.

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

The Acorns 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.

Acorns Advisers, LLC (“Acorns”) is an investment adviser registered with the
U.S. Securities and Exchange Commission. 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. 

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

By participating in the Acorns 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 CLAUSE IN SECTION 9.

2. Reward Shares for Referrals

Acorns will credit your Acorns Invest Account with Reward Shares only after the
Referring Client and the Referred Client have met all eligibility criteria under
the terms and conditions for the applicable referral promotion, which will vary
by promotion.  After each Referred Client (1) opens an Acorns Portfolio Account
type specified by the applicable referral promotion, (2) deposits an initial 
investment amount of at least $5 in such account,  (3) maintains the ETF Shares
purchased by Acorns on your behalf with the initial investment  for at least  30
days and (4) if applicable, maintains the type of paid subscription with Acorns
for the number of billing period specified by the applicable referral promotion,
Acorns will credit your Acorns Invest Account with the amounts and types of
Reward Shares that correspond to your Selected Portfolio and are collectively
worth the Reward Amount 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 of
$5 and maintains the purchased  ETF Shares in his or her Acorns Portfolio 
Account for at least 30 days; (iii) unless and until the Referred Client remains
a subscriber at the subscription tier for the number of billing cycles if
specified in the applicable referral promotion, (iv) if Acorns 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 (v) unless you invite a client using the links Acorns
provides in the Application for Referrals. In addition, if the applicable
referral promotion also requires that you make an initial investment in an
Acorns Portfolio Account and/or subscribe to a certain Acorns subscription plan
for a minimum amount of billing cycles, Acorns will not credit your Acorns
Invest Account with the Reward Shares unless and until you have also met such
requirements. Acorns, at its sole discretion, may make available certain
promotions with different Reward Amounts to other Acorns users or prospective
users. These promotions, unless offered to you, shall have no bearing whatsoever
on your Agreement or relationship with Acorns.

3. Compliance

In connection with your participating 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
Acorns either by mass emailing, use of automated systems, bots or automatic
dialers, and to not post Referral links on websites or event 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 Acorns. This includes,
but is not limited to, content that violates someone else’s privacy or harassing
content.

4. No fraudulent activity - You agree not 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 Acorns’s content - You agree not to sell Acorns Referral links
or create websites, email addresses or social media with Acorns’s name, images
or content without Acorns’s express consent. Acorns’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 Acorns or any of Acorns’s products or services to any authorization,
registration, licensing or notification requirements within any jurisdictions
outside those jurisdictions in which Acorns 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
Acorns’s sole discretion.

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 (must include your legal name, and not a screen name/alias, phone
number or email address, for example);

● Acorns’s 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 may be compensated for inviting the Potential New Client;

● the terms of our compensation arrangement with you under this Agreement; 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 Invest Account, or other Acorns
Portfolio Account if applicable, or any differential in advisory fees
attributable to the existence of Acorns’s arrangement with you under this
Agreement.

You also acknowledge and agree that the Potential New Client will be required to
provide an acknowledgement that the Potential New Client has received the
Disclosure.

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.

6. Acorns’s 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
Carrying Broker 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 Carrying
Broker, 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 to Acorns for your  Acorns Portfolio Account(s). 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 ETF Shares in the Referred
Client’s Acorns Portfolio Account from his or her initial $5 investment for at
least 30 days.

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.

By participating in the Acorns Referral Program, you undertake to perform your
duties under this Agreement in a manner consistent with this Agreement, any and
all of Acorns’s 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.






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© 2021 Acorns Grow Incorporated | Disclosures | Accessibility



This website is operated by Acorns Advisers, LLC, an SEC Registered Investment
Advisor.  Brokerage services are provided to clients of Acorns Advisers by
Acorns Securities, LLC, an SEC registered broker-dealer and member FINRA.
 Member of SIPC. Securities in your account protected up to $500,000. For
details, please see https://www.sipc.org.  Checking accounts and debit cards are
issued by Lincoln Savings Bank, Member FDIC.



Important Disclosures:  Investing involves risk, including loss of principal.
 Past performance does not guarantee or indicate future results.  Please
consider, among other important factors, your investment objectives, risk
tolerance and Acorns pricing before investing.  Diversification and asset
allocation do not guarantee a profit, nor do they eliminate the risk of loss of
principal.  It is not possible to invest directly in an index.  Any hypothetical
performance shown is for illustrative purposes only. Such results do not
represent actual results and do not take into consideration economic or market
factors which can impact performance. Actual clients may achieve investment
results materially different from the results portrayed. Round-Ups® investments
are transferred from your linked funding source (checking account) to your
Acorns Invest account, where the funds are invested into a portfolio of selected
ETFs. If you do not maintain an adequate amount of funds in your funding source
sufficient to cover your Round-Ups® investments, you could incur overdraft fees
with your financial institution.  Only purchases made with a funding source
linked to your Acorns account with the feature active are eligible for the
Round- Ups® feature. Please note that a properly suggested portfolio
recommendation is dependent upon current and accurate financial and risk
profiles. Clients who have experienced changes to their goals, financial
circumstances or investment objectives, or who wish to modify their portfolio
recommendation, should promptly update their information in the Acorns app or
through the website. Actual Acorns Earn rewards investments are made by Acorns
Grow, Inc. into your Acorns Invest account through a partnership Acorns Grow
maintains with each Acorns Earn partner.  Acorns Subscription Fees are assessed
based on the tier of services in which you are enrolled.  Acorns does not charge
transactional fees, commissions or fees based on assets for accounts under $1
million. Acorns Checking clients are not charged overdraft fees, maintenance
fees, or ATM fees for cash withdrawals from in-network ATMs.  Please see your
Acorns Subscription Center or Account Statements for a description of the fees
you pay to Acorns for its services.  Third Party Quotes shown may not be
representative of the experience of Acorns customers and do not represent a
guarantee of future performance or success.  Please click on each testimonial to
review the context from which this quote was taken.  Acorns, Round-Ups,
Real-Time Round-Ups, Invest the Change and the Acorns logo are registered
trademarks of Acorns Grow Incorporated. All product and company names are
trademarks™ or registered® trademarks of their respective holders. Use of them
does not imply any affiliation with or endorsement by them. Acorns reserves the
right to restrict or revoke any and all offers at any time.



Compounding, generally, is the growth of principal investments due to the
reinvestment of dividends without withdrawing funds from the account. Acorns
investment accounts do not pay interest, so the impact of compounding may be
limited. It is not an investing strategy and does not assure positive
performance nor does it protect against losses. It does not take into account
market volatility and fluctuations that will impact the value of any investment
account.



The ETFs comprising the portfolios charge fees and expenses that will reduce a
client’s return. Investors should consider the investment objectives, risks,
charges and expenses of the funds carefully before investing. Investment
policies, management fees and other information can be found in the individual
ETF’s prospectus. Please read the prospectus carefully before you invest.



1 Early Payday depends on timing of the submission of the payment file from the
payer and fraud prevention restrictions. Funds are generally available on the
day the payment file is received, up to 2 days earlier than the scheduled
payment date. Timing may vary.



2 Acorns also offers an Acorns Checking deposit account. Acorns Checking
accounts are issued by Lincoln Savings Bank, Member FDIC, and are FDIC insured
up to $250,000. Acorns Visa™ debit cards are issued by Lincoln Savings Bank,
member FDIC for Acorns Checking account holders.  "Save and Invest" claim refers
to a client's ability to utilize the Acorns Checking Real-Time Round-up feature
to invest small amounts of money from purchases made using an Acorns Checking
account, and seamlessly investing those small amounts using an Acorns Investment
account.  Requires both an active Acorns Checking account and an Acorns
Investment account in good standing.  Real-Time Round-Ups® are accrued instantly
for investment during the next trading window.



For additional important risks, disclosures and information, please visit
https://www.acorns.com/terms/

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