Overview
The Registrant
Stash is a privately held company headquartered in New York, New York. Stash’s predecessor, Stash
Financial Inc. (formerly known as Collective Returns, Inc.), a privately held digital financial services
company offering financial products to U.S. based consumers (“Stash Financial”), was founded in
October 2015. Stash was formed in August 2017, acquired all of the assets and liabilities of the
investment advisory function of Stash Financial, and continued the investment advisory business as a
wholly-owned subsidiary. Stash managed approximately $124,127,546 on a discretionary basis and
$3,219,715,691 on a non-discretionary basis as of December 31, 2023.
Wrap Fee Program
Stash provides a wrap fee program to retail clients that includes automated investment advice through
the Stash Investments platform. The wrap-fee program provides two “subscription tiers” for clients to
choose from, Stash Growth and Stash+. Stash Growth makes available to clients personal brokerage
accounts, retirement accounts and Discretionary Managed Accounts. Stash+ makes available to
clients custodial accounts in addition to all of the account types available to Stash Growth clients
(personal brokerage accounts, retirement accounts, and custodial accounts are collectively
“Non-Discretionary Accounts” and Non-Discretionary Accounts and Discretionary Managed Accounts
are collectively “Client Securities Accounts”). Both subscription tiers include delivery of impersonal
and personalized discretionary and non-discretionary investment advice. Impersonal investment
advice is not tailored to clients’ individual needs and does not purport to meet the objectives or needs
of clients’ accounts held with Stash. Both subscription tiers also offer educational information, the
nature of which varies across the subscription tiers and is impersonal in nature
Stash does not make investment decisions for Non-Discretionary Accounts – clients are responsible
for deciding whether and when to buy or sell securities utilizing Stash’s personalized investment
advice delivered through the platform. Discretionary managed accounts are accounts for which Stash
will determine and recommend a target asset allocation based on a Client’s risk profile and manage
your portfolio accordingly – deciding what securities to trade and when. Clients may impose
reasonable restrictions as permitted in Discretionary Managed Accounts.
Appendix 1 of this brochure (the “Wrap Fee Disclosure Brochure”), describes the wrap fee program
offered by Stash that bundles or “wraps” non-discretionary and discretionary investment advisory
services, brokerage, custody, clearing and settlement, as well as other administrative services
together. Clients in each subscription tier pay one bundled or “wrapped” fee that covers investment
management, financial counseling/educational services, trade execution, custodial, and other fees
associated with Client Securities Accounts.