Refer a Friend - Terms & Conditions
The First Portfolio First Step Bursary is promoted by First Portfolio Limited, a company registered in England and Wales (company number 14941541). Registered office: 12 Melcombe Place, London, NW1 6JJ.
First Portfolio Limited (Firm Reference Number: 1028933) is an appointed representative of WealthKernel Limited, which is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 723719).
The Promotion allows eligible First Portfolio customers who have received an invitation to participate in the Promotion to refer friends or family members to First Portfolio.
For each Qualifying Referral:
• the referred person will receive a £20 reward; and
• the referring customer will receive £20 and one free month of their First Portfolio subscription.
This Promotion is available only to customers who have received the promotional communication directly from First Portfolio.
The Promotion begins on 20 July 2026 and closes at 11:59 pm UK time on 31 July 2026.
The referred person must enter the referring customer’s valid referral code when opening their First Portfolio account before the closing date.
Any outstanding onboarding, identity verification or compliance requirements must be completed within the timeframe communicated by First Portfolio.
Referral codes entered after the closing date will not qualify for the Promotion.
4. Eligibility of the Referring Customer
To participate as a referring customer, a person must:
• be resident in the United Kingdom;
• have received an invitation from First Portfolio to participate in the Promotion;
hold a valid First Portfolio account;
• have an active First Portfolio subscription;
• have successfully completed all required identity, eligibility and compliance checks; and
• have a verified UK bank account linked to their First Portfolio account.
• The referring customer’s account must be valid and active when the reward is processed.
Employees, directors, contractors and immediate family members of First Portfolio, its group companies, partners, agents and service providers, and anyone professionally connected with the administration of the Promotion, are not eligible to participate.
5. Eligibility of the Referred Person
To qualify as a referred person, the individual must:
• be resident in the United Kingdom;
• be a new First Portfolio customer who has not previously held a First Portfolio account;
• be eligible to open a Stocks and Shares ISA;
• enter the referring customer’s valid referral code during account opening and before the end
of the Promotional Period;
• complete all required onboarding, identity, eligibility and compliance checks;
• set up a First Portfolio subscription;
• have a valid and active First Portfolio account when the reward is processed.
A customer cannot refer themselves. First Portfolio may treat accounts belonging to the same individual as a self referral even where different contact details have been used.
A referral will be treated as a Qualifying Referral only where:
• both the referring customer and the referred person satisfy these Terms and Conditions;
• the referred person enters the correct referral code within the Promotional Period;
• the referred person successfully opens an eligible First Portfolio account;
• the referred person sets up their First Portfolio subscription;
• all required identity, eligibility, fraud prevention and compliance checks have been completed successfully;
• neither account has been closed, suspended, restricted or found to have been created improperly when the rewards are processed; and
• First Portfolio has not identified any fraud, abuse, duplication or manipulation of the referral process.
First Portfolio is not responsible where a code is entered incorrectly, is incomplete or is not recorded during the account opening process.
Only one referral code may be applied to each new account. Where more than one code is submitted, First Portfolio will use the first valid referral code recorded by its systems.
7.1 Reward for the referred person
The referred person will receive a £20 cash reward for a qualifying referral.
7.2. Reward for the referring customer
For each qualifying referral, the referring customer will receive:
• one free month of their First Portfolio subscription.
Each selected recipient must open a First Portfolio account to receive the award. Once a selected recipient has confirmed acceptance of the bursary, they must create a First Portfolio account and complete all required onboarding steps within fourteen (14) calendar days, if they do not already have one.
• applies only to the First Portfolio platform subscription fee;
• does not cover underlying fund management charges, investment charges or any other applicable costs;
• cannot be exchanged for cash, transferred to another person or applied to another account; and
• Standard subscription fees (£1.50 per month or £15.00 per year if paid annually) will apply once the free subscription period has been used.
A referring customer may receive rewards for a maximum of 10 (ten) qualifying referrals during the Promotional Period.
7.5 Payment of Cash Rewards
The bursary will be credited within thirty (30) calendar days after the recipient has successfully completed all required onboarding, identity, ISA eligibility, and compliance checks.
● credited directly to the recipient’s First Portfolio ISA plan; or
● paid by bank transfer to the bank account registered during the First Portfolio account opening process
Where the reward cannot be credited to the recipient’s First Portfolio ISA plan, including where doing so would cause the recipient to exceed their applicable ISA allowance, First Portfolio may instead pay the award as a cash award by bank transfer.
Rewards will normally be paid within 30 calendar days after the referred person has opened their eligible account and successfully completed all required onboarding, identity, eligibility and compliance checks.
Both the referring customer’s account and the referred person’s account must remain valid and active when the payment is processed.
First Portfolio may delay payment where reasonably necessary because of:
a. incomplete or unsuccessful verification;
b. missing or incorrect bank details;
c. operational or technical issues;
d. suspected fraud or misuse;
e. regulatory or compliance requirements; or
f. circumstances outside First Portfolio’s reasonable control.
First Portfolio will not be responsible for delays caused by incorrect bank details provided by a participant.
Rewards are personal to the eligible participant and cannot be transferred to another person or account.
Opening and maintaining a First Portfolio account requires a First Portfolio subscription.
Standard First Portfolio subscription fees apply (£1.50 per month or £15.00 per year if paid annually) except for any free subscription credit awarded to the referring customer under this Promotion.
9. Fraud, Abuse and Disqualification
First Portfolio may withhold or recover a reward and disqualify a participant where it reasonably believes that the participant has:
• provided false, inaccurate, incomplete or misleading information;
• created duplicate, artificial or fraudulent accounts;
• attempted to manipulate the referral process;
• used another person’s details without permission;
• breached these Terms and Conditions; or
• otherwise acted fraudulently, dishonestly or abusively.
First Portfolio reserves the right to amend, suspend, withdraw or cancel the Promotion where it is reasonable and necessary to do so.
This may include operational, legal, regulatory, technical, compliance, fraud prevention or business reasons.
First Portfolio will not make a change that unfairly disadvantages a participant who has already completed all qualifying requirements unless the change is required for legal, regulatory or compliance reasons.
Investing involves risk. The value of investments can go down as well as up, and recipients may get back less than the amount invested.
The Promotion does not constitute financial advice, investment advice, tax advice or a personal recommendation.
Tax treatment depends on individual circumstances and may change.
Applicants should consider whether investing is right for them before opening a Stocks and Shares ISA.
First Portfolio will not be responsible for referrals that are lost, delayed, incomplete, incorrectly submitted, corrupted, misdirected or not recorded for reasons outside its reasonable control.
First Portfolio will not be responsible where a participant cannot complete account opening, verification or payment because they have supplied incorrect or incomplete information.
Nothing in these Terms and Conditions excludes or limits liability where it would be unlawful to do so.
Investing involves risk. The value of investments can go down as well as up, and recipients may get back less than the amount invested.
The bursary does not constitute financial advice, investment advice, tax advice or a personal recommendation.
Tax treatment depends on individual circumstances and may change.
Applicants should consider whether investing is right for them before opening a Stocks and Shares ISA.
These terms and conditions are governed by the laws of England and Wales.
Questions about the First Portfolio Refer a Friend Promotion can be sent to:
support@firstportfolio.com© 2026 First Portfolio. All rights reserved.
