BlackRock and Acorns Partner to Expand Financial Participation Among the Next Generation of Investors

BlackRock becomes an Anchor Investor in Acorns

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May 09, 2018, 08:30 ET

NEW YORK, May 9, 2018 /PRNewswire/ -- BlackRock, Inc. (NYSE: BLK) and Acorns, the country's fastest growing micro investing app with more than 3.3 million investment accounts, today announced a partnership focused on improving the savings and investing behaviors of the next generation of investors.

With a shared goal of helping more people prepare for life's most important financial moments, the firms have reached an agreement through which they will pursue new technology-enabled tools for Acorns' users.

Acorns helps America's up-and-coming by automatically investing spare change from everyday purchases into diversified ETF portfolios. It also helps these customers grow their knowledge, earn extra money and save for retirement with the recent launch of Acorns Later, the first automated retirement account.

"Our partnership is formed at the intersection of technology and purpose. It is rooted in the shared commitment of our two firms to use technology to help more and more people improve the way they engage with, save and ultimately invest their money," said Rob Goldstein, BlackRock's Chief Operating Officer. "Acorns is a pioneer in creating innovative ways to engage investors in a mobile-first world. By deepening our understanding of how their customers use investment technologies, we can apply those learnings across BlackRock to evolve the products we build for our distribution partners."

"This partnership supports our shared ambition to put the tools of wealth-making in everyone's hands," said Noah Kerner, CEO of Acorns. "We wake up every day and think about how to help Americans build a better future. After reading 'Larry's Letter,' I can't think of a better collaborator on this journey."

"We're excited to be joining forces with Acorns to increase financial inclusion through technology by helping people take action today to improve their financial futures," said Frank Cooper, BlackRock's Chief Marketing Officer. "Through micro-behaviors the next generation of investors can take achievable steps towards building their wellbeing."

As an anchor investor and key partner to Acorns, BlackRock will have an Observer seat on the company's Board of Directors, held by Mr. Cooper.

About BlackRock
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of March 31, 2018, the firm managed approximately $6.317 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.

About Acorns
Acorns is the leading micro investing app in the U.S. Its easy-to-use, mobile-first technology makes it simple for anyone to set aside and invest life's spare money. Acorns allows customers to automatically invest in a low-cost, diversified portfolio of exchange-traded funds offered by some of the world's top asset managers (including Vanguard and BlackRock). Customers grow their wealth in one of five portfolios constructed with help from world-renowned Nobel Laureate economist Dr. Harry Markowitz. Acorns smart portfolio algorithms automatically work in the background of life, helping users build wealth naturally, pennies at a time. From Acorns mighty oaks do grow. You can access Acorns simply and easily via the app for iPhone, Android or desktop. Visit Acorns.com for more.

SOURCE Acorns