in Investment Advisors from Acorns Adviser, LLC
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Acorns Invest Review
Acorns Invest 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 Invest is not tied to a particular company or product and can therefore offer unbiased investment advice.
What fees does Acorns Invest charge?
Acorns Invest uses a fee-only model.
This means Acorns Invest 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.
|Monthly Fee||$0 - $3|
|Account Transfer Fee||$0|
|Account Termination Fee||$0|
|Investment Expense Ratios||N/A|
|IRA Annual Fee||N/A|
|Options Per Contract Fee||N/A|
|Futures Contract Commission||N/A|
What management fees does Acorns Invest charge?Acorns Invest 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 Invest?
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 Invest does not charge fees based on an investment expense ratio.
What features does Acorns Invest offer?
Acorns Invest 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 Invest support?
Acorns Adviser, LLC offers the following types of assets and account types.
|Supported Options||Unsupported Options|
Acorns Adviser, LLC 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 Invest?Acorns Invest does not have a minimum amount to open an account.
How does Acorns Invest compare to other investment advisors?
|The Good||The Bad|
|Independent/Registered Investment Advisor|