U-Nest

U-Nest is a software company offering a mobile application for managing tax-free 529 education saving plans that is headquartered in North Hollywood, California and was founded in 2018 by Ksenia Yudina.

Users can set up a U-Nest account within 5 minutes of downloading the U-Nest application on their smartphones according to the company's website. After setting up an account users must select a monthly contribution amount to put towards their tax-free education savings plan (minimum of $25 a month). U-Nest also developing the ability for friends and family to contribute the a child's education savings account. users can view their account balance, change their contribution plan, and manage all their transactions using the U-Nest mobile application.

Each parent of a child is able to contribute up to $15,000 a year ($30,000 per couple) to an education savings plan. Parents are able to contribute more by choosing a one-time deposit of up to $75,000 per parent ($150,000 per couple) which fulfils their contributions for 5 consecutive years.

U-Nest charges users a $3 a month account fee,0.4%-0.6% investment fees, and does not charge new users a sales commission fee when they sign up. U-Nest uses a passive investment strategy which allows them to keep their investment management fees low. According to the company's website, users are able to save an extra $20,768 over the life of their U-Nest accounts compared to investing with traditional financial advisors.

U-Nest offers bank-level security for its users financial data using 265 bit browser encryption and secure servers that are monitored 24/7. The company is registered as an investment advisor with the United States Securities and Exchange Commission. U-Nest also uses identity verification services to protect users against identity theft. All users data on U-Nest is used only for creating U-Nest accounts and is kept confidential.