NerdWallet is committed to providing transparent and reliable financial information. As part of this commitment, it’s important to understand how NerdWallet partners with other financial institutions to offer a range of services. This disclosure outlines key partnerships, including details relevant to what we’ll refer to as “Delta Co Share Partners,” ensuring you have a clear picture of how NerdWallet operates. It’s crucial to remember that NerdWallet itself is not a bank, brokerage, or insurance company. Instead, we collaborate with established financial service providers to bring you valuable tools and resources.
One significant area of partnership involves credit card services. The NerdUp by NerdWallet Credit Card, for example, is not directly issued by NerdWallet. Instead, bank services are provided by Evolve Bank & Trust, a member of the FDIC (Federal Deposit Insurance Corporation). Evolve Bank & Trust issues the NerdUp card under a license from MasterCard International Inc. This type of “delta co share partner” arrangement is common in the financial industry, allowing NerdWallet to offer credit card products while relying on the banking infrastructure and regulatory compliance of a partner institution. It’s important to note that your credit score may be impacted by your financial interactions, and these scores are determined independently by credit bureaus based on various factors.
Beyond credit cards, NerdWallet also provides access to investment advisory services through a partnership with Atomic Invest LLC (“Atomic”), an SEC-registered investment adviser. This “delta co share partner” relationship means that when you open an investment advisory account through NerdWallet, you are actually engaging with Atomic Invest. It’s vital to be aware of potential conflicts of interest in such arrangements. NerdWallet receives compensation from Atomic, ranging from 0% to 0.85% of assets under management annually, paid monthly, for each referred client. Additionally, NerdWallet receives a percentage of free cash interest earned by clients. These compensation structures are important to understand as they represent a business relationship between NerdWallet and its “delta co share partners” like Atomic.
Brokerage services for Atomic are, in turn, provided by Atomic Brokerage LLC, a registered broker-dealer and member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). Atomic Brokerage is also an affiliate of Atomic, creating another layer of partnership within the “delta co share partners” network. This interconnectedness highlights the importance of transparency and full disclosure, ensuring users are informed about the entities involved in providing financial services through the NerdWallet platform. For comprehensive details about Atomic, you should review their Form CRS, Form ADV Part 2A, and Privacy Policy. Similarly, for Atomic Brokerage, refer to their Form CRS and General Disclosures. You can also verify the background of Atomic Brokerage on FINRA’s BrokerCheck website, further emphasizing the due diligence and regulatory oversight associated with these “delta co share partners.”
It’s crucial to remember that neither Atomic Invest nor Atomic Brokerage, nor their affiliates, are banks. Therefore, investments in securities are Not FDIC insured, Not Bank Guaranteed, and May Lose Value. Investing in securities inherently involves risk, including the potential loss of your principal investment. Before making any investment decisions, carefully consider your investment objectives, risk tolerance, and the fees and expenses involved. Understanding these risks is paramount when engaging with any investment service facilitated through NerdWallet’s “delta co share partners.”
In California, NerdWallet Compare, Inc. arranges California Finance Lender loans under Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812. Insurance services are offered through NerdWallet Insurance Services, Inc. (CA resident license no.OK92033). These licenses and disclosures are part of NerdWallet’s commitment to legal compliance and transparency in all its operations and partnerships, including those we are referencing as “delta co share partners.”
NerdWallet operates at 55 Hawthorne St. – 10th Floor, San Francisco, CA 94105. We encourage you to utilize resources like NMLS Consumer Access and Licenses and Disclosures pages for further verification and information. Understanding the “delta co share partners” model is key to confidently using NerdWallet’s platform and services.
