Form CRS Parrot Finance, Inc. (“FIRM”) is registered with the Securities and Exchange Commission as an investment adviser. Brokerage and investment advisory services and fees differ and it is important for the retail investor to understand the differences. Free and simple tools are available for you to use at Investor.gov/CRS, a website maintained by the SEC. These tools can provide you with educational materials about broker-dealers, investment advisers, and investing. All recommendations regarding your advisory account will be made in an advisory capacity.
What investment services and advice can you provide me?
Parrot offers limited advisory services to its clients. The Parrot app provides access to portfolios – each portfolio represents a fund manager or individual. The portfolios in Parrot are generated through a combination of public filings and direct
partnerships between Parrot and certain fund managers. The Parrot app connects to your brokerage account so you can browse, follow, and act on tracked portfolios, which will provide you with buy or sell alerts on stocks, exchange traded funds (ETFs), and cryptocurrencies. Parrot offers both discretionary and non-discretionary account ("Account") management services tailored to each client’s
individual needs. In a discretionary account, Parrot will have the authority to determine which securities are bought and sold without prior consultation with the client based upon the portfolio selected initially by the client. Discretion is exercised in a manner consistent with the client’s choice of portfolios and any restrictions the client provides in writing. In a non- discretionary account, the client makes the ultimate decision regarding the purchase or sale of investments and will have to instruct their broker to place the trades either directly or through the Parrot app. Discretionary authority is provided as part of the Client Agreement. There is no minimum account size to use the Parrot app. Additional information about services provided are available in our ADV Disclosure Brochure (Form ADV Part 2A, Items 4, 7, 13 and 16; and on our website at parrotfinance.io. When considering our services, ask your financial professional:
• Given my financial situation, should I choose an investment advisory service? Why or why not?
• How will you choose investments to recommend to me?
• What is your relevant experience, including your licenses, education and other qualifications? What do these
qualifications mean?
What fees will I pay?
Parrot charges a flat subscription fee to clients for subscribing to our premium service and having access to the portfolios we make available. Clients can choose to be billed quarterly or annually, in advance. The initial fee is due upon subscribing
to our premium service and either quarterly or annually thereafter and will be charged based on the funding option used in the App Store. Aside from the fees we charge you for providing investment advice, you may have to pay other fees related to brokerage or investment advisory services. Fees can be charged directly or indirectly. Direct fees include transaction fees and account maintenance fees (including IRA fees) charged by the custodian that holds your account, prime broker fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Indirect fees include internal management fees (including 12b-1 fees and annual fund operating expenses) charged by and exchange traded funds, which are disclosed in a fund’s prospectus. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. Additional information about Parrot’s fees is available in Parrot’s ADV Disclosure Brochure (Form ADV Part 2A, Item 5).When considering our services, ask your financial professional:
• Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
What are your legal obligations to me when acting as my investment adviser? How else does the firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us
about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.
Parrot charges a flat, fixed fee for its advisory services that is not based on the value of client assets or portfolio performance. This fee structure creates a conflict of interest because Parrot does not receive increased compensation as
client assets grow, which may reduce our incentive to recommend strategies aimed at increasing account value. When considering our services, ask our financial professional:
• How might your conflicts of interest affect me, and how will you address them?
Additional information about conflicts of interest are available in our ADV Disclosure Brochure (Form ADV Part 2A, Item 10.)
How do your financial professionals make money?
Our investment advisors and other employees receive a specific salary. Their compensation is not based on the level of assets in our clients accounts, the time and complexity required for any particular client or the products sold.
Do you or your financial professionals have legal or disciplinary history?
No, visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals. When considering our services, ask your financial professional:
• As a financial professional, do you have any disciplinary history? For what type of conduct.
Additional information about services provided can be found on the company’s website parrotfinance.io and on Parrot’s ADV Disclosure Brochure.
You can always ask for more information and request a copy of this relationship summary by calling us at (707) 343-8594 or
email us at hello@parrotfinance.io.
When considering our services, ask our financial professional:
• Who is my primary contact person?
• Is she or he a representative of an investment adviser or a broker dealer?
• Who can I talk to if I have concerns about how this person is treating me?
Parrot Finance, Inc. (“FIRM”) is registered with the Securities and Exchange Commission as an investment adviser. Brokerage and investment advisory services and fees differ and it is important for the retail investor to understand the differences. Free and simple tools are available for you to use at Investor.gov/CRS, a website maintained by the SEC. These tools can provide you with educational materials about broker-dealers, investment advisers, and investing. All recommendations regarding your advisory account will be made in an advisory capacity.
Parrot offers limited advisory services to its clients. The Parrot app provides access to portfolios – each portfolio represents a fund manager or individual. The portfolios in Parrot are generated through a combination of public filings and direct partnerships between Parrot and certain fund managers. The Parrot app connects to your brokerage account so you can browse, follow, and act on tracked portfolios, which will provide you with buy or sell alerts on stocks, exchange traded funds (ETFs), and cryptocurrencies.
Parrot offers both discretionary and non-discretionary account ("Account") management services tailored to each client’s individual needs. In a discretionary account, Parrot will have the authority to determine which securities are bought and sold without prior consultation with the client based upon the portfolio selected initially by the client. Discretion is exercised in a manner consistent with the client’s choice of portfolios and any restrictions the client provides in writing. In a non discretionary account, the client makes the ultimate decision regarding the purchase or sale of investments and will have to instruct their broker to place the trades either directly or through the Parrot app. Discretionary authority is provided as part of the Client Agreement. There is no minimum account size to use the Parrot app.
Additional information about services provided are available in our ADV Disclosure Brochure (Form ADV Part 2A, Items 4, 7, 13 and 16; and on our website at parrotfinance.io.
When considering our services, ask your financial professional:
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.
Parrot charges a flat, fixed fee for its advisory services that is not based on the value of client assets or portfolio performance. This fee structure creates a conflict of interest because Parrot does not receive increased compensation as client assets grow, which may reduce our incentive to recommend strategies aimed at increasing account value.
When considering our services, ask our financial professional:
Additional information about conflicts of interest are available in our ADV Disclosure Brochure (Form ADV Part 2A, Item
Our investment advisors and other employees receive a specific salary. Their compensation is not based on the level of assets in our clients accounts, the time and complexity required for any particular client or the products sold.
No, visit Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.
When considering our services, ask your financial professional:
Additional information about services provided can be found on the company’s website parrotfinance.io and on Parrot’s ADV Disclosure Brochure.
You can always ask for more information and request a copy of this relationship summary by calling us at (707) 343-8594 or email us at hello@parrotfinance.io.
When considering our services, ask our financial professional: