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Acorns

in Investment Advisors from Acorns

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Acorns

Unaffiliated

in Investment Advisors from Acorns

SuperMoney Net Recommendation Score +100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly recommended

5 users recommend
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0 users don't recommend
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Highlights
Highlights
Community Rating Strongly recommended
Minimum Account $0
Management Fee 0%
Number of Reviews 5

Acorns Review

Acorns was founded in 2012 and is based in Irvine, CA. It is a Registered Investment Adviser or RIA. RIAs have a fiduciary duty to work in your best interest. Acorns is not tied to a particular company or product and can therefore offer unbiased investment advice.

What fees does Acorns charge?

Acorns uses a fee-only model.

This means Acorns gets paid a flat fee regardless of what financial products or services you use. It also means they have a fiduciary responsibility to their clients. Instead of making money on trades commissions or selling products, they recommend an asset allocation and get paid a flat-fee or a percentage of the assets under administration. That requires that they act in their client’s financial best interest at all times.

Acorns Fees
Description
Annual Fee $0
Monthly Fee $0 - $3
Management Fee 0%
Fee Based? Yes
Account Transfer Fee $0
Account Termination Fee $0
Investment Expense Ratios N/A
IRA Annual Fee N/A

What management fees does Acorns charge?

Acorns charges a fixed monthly fee of $0 to $3 .

Many financial advisors charge based on how much money they oversee by using a fee-structure called “assets under management,” or AUM. For instance, a 0.40% fee translates to $4 per year for every $1,000 an investment advisor manages. Management fees, also known as maintenance fees, cover the operating costs of investment advisors and are typically deducted from your account every month or quarter. The management fee does not cover the underlying expense ratios of the investment vehicles purchased by investment advisors.

What are the investment expense ratios of Acorns?

Hiring an investment advisor with competitive investment fees is one of the most important steps to maximizing your portfolio's performance. Investment expense ratios can vary drastically depending on the types of accounts and assets involved. A survey by the ICI puts the average expense ratio for actively managed funds at 0.76% and indexed funds at 0.08%. The investment expense ratios of an investment advisor will vary depending on the type of assets they invest in and whether they attach additional charges to fund fees.

Acorns does not charge fees based on an investment expense ratio.

What features does Acorns offer?

Acorns is registered with the Securities and Exchange Commission, or SEC. Registered investment advisors are required to provide detailed information on the financial and legal status of the company and its staff. This allows investors to examine closely any conflicts of interest and look into the background of the company and its advisory team.

What type of investment accounts and asset classes does Acorns support?

Acorns offers the following types of assets and account types.

Accounts Supported Options
Supported Options Unsupported Options
  • Individual Non-Retirement Accounts
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SEP IRA
  • Joint Non-Retirement Accounts
  • Trusts
  • 529 College Savings Plans
  • Employer Sponsored Plans
  • Custodial Accounts
  • Acorns does not offer any of the investment vehicles that we track.

    What is the minimum amount you have to invest to open an account with Acorns?

    Acorns does not have a minimum amount to open an account.

    How does Acorns compare to other investment advisors?

    Pros & Cons of Acorns
    Pros Cons
  • Broad selection of account types.
  • Competitive investment expense ratios.
  • No minimum amount to open an account.
  • Does not offer low-cost ETFs.
  • Does not give access to human finance advisors.
  • Tax-loss harvesting not available.
  • Limited investment options.
  • SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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    About Acorns

    Feature Breakdown

    Account Termination Fee $0
    Account Transfer Fee $0
    Annual Fee $0
    Management Fee 0%
    Fee Based  
    Monthly Fee $0 - $3
    Accounts Supported
    • Individual Non-Retirement Accounts
    • Rollover IRA
    • Roth IRA
    • SEP IRA
    • Traditional IRA
    Automatic Rebalancing  
    Independent/Registered Investment Advisor  
    Investment Features
    • Registered Investment Advisor
    • SEC Registered
    Software Managed  

    Acorns Community Reviews

     

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