Acorns
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The Fine Print of Acorns
Acorns Business Continuity Summary Disclosure
Revised: April 2024
Purpose
Acorns offers investment advisory services through Acorns Advisers, LLC (“Acorns Advisers”). Through these services, customers can use the Internet and their mobile devices to invest money in their accounts via diversified portfolios. Acorns Advisers, LLC and Acorns Securities, LLC, its affiliated Broker Dealer, are subsidiaries of Acorns Grow Incorporated (“Acorns Grow”)
- Acorns Securities, LLC is a FINRA Registered Broker Dealer
- Acorns Advisers, LLC is an SEC Registered Investment Adviser (RIA)
Acorns Securities arranges transactions on behalf of Acorns Advisers. Acorns Securities executes transactions on an omnibus basis through independent clearing firms. These transactions involve Exchange Traded Funds (“ETFs”) and individual equity securities, that make up the portfolios offered to customers of Acorns Advisers. Acorns Grow, Acorns Securities, and Acorns Advisers are referred to herein as “Acorns”.
This disclosure presents a summary of the Acorns Business Continuity Program and its components.
Business Continuity Plan
Acorns’ policy is to respond to a Significant Business Disruption (“SBD”) by safeguarding employees’ health and safety and Acorns property; conducting financial and operational assessments; quickly recovering and resuming operations; protecting intellectual property, books and records; and allowing our customers to access the services associated with their accounts.
We manage an enterprise-wide Business Continuity Plan (“BCP”) to create, document, test, and maintain departmental business resumption plans in order to recover critical systems and functions. At least annually, critical business processes are reviewed to ensure that they are workable, in compliance, and that staff are aware of their roles in the event of a business interruption.
Our plan anticipates either internal or external SBDs. Internal SBDs affect Acorns’ ability to communicate and do business, such as a fire in our office. External SBDs disrupt the operations of the securities markets, such as a natural disaster; acts of terrorism; cyber-attacks; equipment or system failures; unexpected loss of a critical service provider; or a wide-scale, regional disruption. Our response to an external SBD relies on other organizations and systems.
Maintenance
Acorns will maintain copies of its BCP Plan, including the annual reviews and approvals in accordance with our Information Security policy, along with any changes that have been made to it for inspection.
Acorns will perform annual reviews, to ensure the plans are accurately maintained and fit for purpose. Business changes and best practices are reviewed and reflected within the plans. Business Continuity Plans are reviewed by the Chief Information Security Officer (“CISO”) and approved by the Compliance Committee.
For more information
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If you have questions about our Business Continuity Plan, you may contact us at compliance@acorns.com.
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If after a significant business disruption you cannot contact us, you should call our Support number (855) 739-2859, or email us at support@acorns.com.
