UNest
app-based UTMA custodial investing with family gifting features
How it works
UNest is a mobile app that helps parents open UTMA custodial investment accounts for their children, with advisor-managed portfolios and a gifting feature for family and friends. Funds can be used for any future purpose, not limited to education. The app also offers UNest Rewards, earning cash back from partner brands that deposits directly into the child's account.
Is it right for you?
Consider if you
- Parents wanting a simple app to invest for their child's future beyond college
- Families who want relatives to easily contribute monetary gifts
- Parents who prefer a hands-off, advisor-managed investment portfolio
Skip if you
- Families wanting tax-advantaged 529 education savings specifically
- Parents who want to pick individual stocks (advisor-managed only)
Your money and data
UNest is an SEC-registered investment adviser. Investments are held through UNest Securities, LLC (FINRA member) and cleared through Apex Clearing Corporation (SIPC member). Securities are SIPC-protected up to $500,000. Uninvested cash is FDIC-insured up to $250,000 through First Horizon Bank. The account is a UTMA custodial account — the child takes full control at the age of termination.
Pros & Cons
Pros
- Fast setup in under 5 minutes with an intuitive mobile interface
- Family and friends can gift contributions easily through the app
- UNest Rewards cash back from partner brands goes into the child's account
Cons
- Monthly fees apply regardless of account balance
- UTMA accounts offer no tax advantages for education expenses
- Android app rating notably lower than iOS (3.78 vs 4.7)
Pricing details
$4.99/month ($39.99/year) · $9.99/month premium tier · 0.25% fee on balances over $50,000
On unest.com · We may earn a commission
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