Acorns Investment Account

Advisory services through Atomic Invest are designed to assist clients in achieving a favorable outcome in their investment portfolio. They are not intended to provide tax advice or financial planning with respect to every aspect of a client’s financial situation and do not include investments that clients may hold outside of Atomic Invest. For more details about Atomic Invest, please see the Form CRS, Form ADV Part 2A, the Privacy Policy, and other disclosures. Acorns Personal, priced at $3 per month, offers access to an investment account, Acorns Later retirement account, and a checking account with Round-Ups and Acorns’ automated investment portfolios. This subscription plan is best suited for those wanting a simple investment strategy for the short and long term and manage their finances in a single easy-to-use application.

Let’s unpack how Acorns Invest works, including membership tier levels and portfolio options. Well-diversified portfolio with exposure to domestic and international stocks, bonds, REITs and a Bitcoin-linked xcritical courses scam ETF. On August 21, 2024, Acorns changed the names of its Subscription Plans from “Personal,” “Personal Plus,” and “Premium” to “Bronze,” “Silver,” and “Gold.” No other changes were made to the Subscription Plans at that time.

With Acorns, however, you’ll have to pay a monthly fee of $3, $6, or $12 per month. However, Acorns is less cost-effective than other beginner-focused investment apps with no subscription fees (like SoFi ). Unlike other competitors such as Wealthfront, our Acorns portfolio consisted of just four low-cost ETFs, all with miniscule expense ratios—the operating fees charged by the funds you invest in. This simplified approach makes your investments much easier to understand without sacrificing returns. Still, competing robo-advisors provide more robust services at a lower cost. Only users who think they’ll be enticed to save more with Acorns need apply.

Portfolio mix

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How Does Acorns Differ From Other Investment Apps?

The Silver plan includes Acorns Early, which makes it easy to create UTMA/UGMA accounts for your kids. These custodial accounts allow parents to invest on behalf of a minor child, and use the money for expenses that xcritical courses scam benefit the child. Once the child reaches the age of transfer (this will depend on where they live), they gain ownership of the account and can use the money for any reason. The portfolios themselves are mostly made up of low-cost iShares exchange-traded funds that cover large, medium and small company stocks, international company stocks and a variety of bonds. Acorns is great for chill investors, families and people who don’t want to worry about keeping minimum balances or tracking hidden fees.

Savings account/cash management options

Acorns is a unique robo-advisor, with the objective of making it easy to start investing and saving for your future by automatically investing your “spare change” with every debit or credit card purchase. Once Acorns’ Round-Ups® feature has been selected in the account, investors can effortlessly invest by automatically rounding up their purchases to the next dollar, and investing what’s left over. Because this concept is so effective at allowing customers to start investing by simply setting aside pocket change, Acorns is Investopedia’s choice as the best robo-advisor for those who struggle to save. For small accounts, however, the monthly account fees could outweigh the savings feature, depending upon the investor’s level of use.

Accounts supported

Clients will get low-cost funds as well as less-common choices such as socially responsible funds, though the service doesn’t offer tax-loss harvesting or many tools. Fees at Acorns can be above-average for investors who are starting with small portfolios, however. You also won’t be able to take advantage of tax-loss harvesting, a common feature at leading robo-advisors. Investors looking for more comprehensive offerings should consider Wealthfront or Betterment.

We’ll put our money into your future

However, the two investment apps diverge regarding investment choices, fees, and features. On top of the Silver features, Acorns Gold gets you access to Acorns Early custodial accounts and DIY stock https://xcritical.solutions/ investing. Acorns will make bonus match investments up to 50% of your contributions. You’ll also get access to educational courses, banking for kids, and a $10,000 life insurance policy.

But you’ll also pay above-average management fees and have limited account types to choose from. For younger investors looking to invest based on their values or certain themes, Morgan Stanley’s Access Investing provides a suitable option among robo-advisors. Acorns also offers fractional shares on both new purchases and reinvested dividends.

The Acorns app is available to download for free in both the App Store (for iOS), where it has 4.7/5 stars, and on Google Play (for Android), where it has 4.6/5 stars at the time this article was written. You can even opt to create an ESG portfolio which will be composed of ETFs that provide exposure to more sustainable companies. Share your thoughts on how we could improve our resources to simplify your banking decisions. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

• DollarSprout.com is owned by VTX Capital, LLC and neither are licensed by or affiliated with any third-party marks on this website and third parties do not endorse, authorize, or sponsor our content except where clearly disclosed.
• Backend Benchmarking provided Forbes Advisor with nearly 100 data points spanning nine categories for each platform from its most recent robo-advisor industry evaluation.
• While experienced investors may find that Acorns lacks essential features they’ve come to expect from investment apps, many would benefit from starting their investing journey with Acorns.
• Acorns differs from other investment apps by offering an investment and financial experience that seamlessly inter-operates specifically for newer investors or investors seeking a less-complicated investing experience.

Opening an Acorns account is simple and can be done completely online. During account setup, investors will input information regarding income, age, time horizon, risk tolerance, and financial goals to determine asset allocation within the portfolio. Acorns will automatically recommend a diversified portfolio of ETFs customized for you based on your investing preferences and needs.

DollarSprout.com is owned by VTX Capital, LLC and neither are licensed by or affiliated with any third-party marks on this website and third parties do not endorse, authorize, or sponsor our content except where clearly disclosed. You can read more about closing your account on this support page. It would take just over 10 years at this savings rate to eclipse $10,000 in deposit principal. Acorns has several security measures in place to keep investor account information safe and secure. The use of this website means that you accept the confidentiality regulations and the conditions of service. Catch up on Select’s in-depth coverage of personal finance, tech and tools, wellness and more, and follow us on Facebook, Instagram and Twitter to stay up to date.

Unique features of Acorns Early include a debit card, a chore tracker tool to earn an automated allowance, real-time spending notification for parents, and educational videos and quizzes for kids to learn essential money skills. The features were previously part of GoHenry, which combined with Acorns in 2024. Acorns Early is the platform’s UTMA/UGMA custodial account option for investors to save on behalf of a beneficiary. Like the best 529 plans, custodial accounts are generally intended for future educational expenses, such as college tuition or student loan payments. Acorns Silver gets you access to more investing and savings tools, such as an emergency fund, bonus Acorn matches (up to 25% of your contributions), and access to live expert Q&As. Acorns is mainly a robo-advisor with limited options for hand-picking stocks and ETFs.

The basic Acorns Bronze brokerage option gives individuals access to customized, diverse investment portfolios, and banking features. Earn bonus investments when you shop at over 450 partnered in-app brands with the Acorns Earn feature. Acorns Bronze also offers educational videos and tips through its Acorns Learn platform. Investors input information regarding income, age, time horizon, risk tolerance, and financial goals to determine asset allocation within the portfolio. Acorns will then automatically review your investments, usually on a monthly basis, and rebalance the portfolio to sustain those initial levels if the portfolio has shifted significantly away from the foundational weightings.

Acorns also offers more than 450 opportunities for users to earn bonus investments with partner brands, a tool to find side hustle opportunities, a browser extension to earn additional bonus investments, and educational resources. Acorn’s Might Oak Visa debit card, partnered with Dwayne “The Rock” Johnson, saves and invests toward your future. Like an Acorn’s Invest account, you can enable real-time round-ups to invest your spare change with each purchase. Its mobile-first approach to building a diversified portfolio of low-cost ETFs is geared toward those interested in opening their first brokerage account, custodial account, or IRA. Acorns stands out for its unique micro-investing feature, Round-Up, which invests spare change from every purchase.