Acorns is an investing platform that is designed to appeal to new investors who want to put their money to work without having to dedicate too much time and energy to stock selection. The platform has a simple interface and a micro-investing concept that allows users to invest small amounts of money with little effort. The app also offers portfolio diversification and a range of other features that make it easy to start investing. This review takes an in-depth look at what Acorns has to offer.
A highlight of this Acorns review is noting that it charges an expensive monthly fee compared to other investing platforms. However, it offers a range of features that make it an attractive option, including portfolio diversification, automated invest plans, and advice from both automated and human-assisted options. The app also has socially responsible investing options and two-factor authentication.
invest plans offered by Acorns include the Stash Beginner option, which gives users an individual invest account that allows them to buy stock and ETFs. Acorns also offers an Acorns Core plan that offers a range of ETFs, as well as a “Lifetime” plan that allows users to invest in a range of ETFs and stock.
One of the features that sets Acorns apart from other investing platforms is its “RoundUps” feature. This feature allows users to automatically transfer small amounts of money from their checking accounts into their Acorns account with each purchase they make. This feature makes it easy for users to get into the habit of investing small amounts of money in their portfolio.
Acorns also offers a range of educational resources to help users learn more about investing. These resources include video tutorials, articles, and podcasts, as well as a library of investing books. The app also has a “Learn” tab that contains helpful information about investing and financial planning.
In terms of fees, Acorns charges a monthly fee of $1 for its Acorns Core plan, and a monthly fee of $2 for its Acorns Core+ and Lifetime plans. The app also charges a $3 withdrawal fee for each withdrawal made from an Acorns account.
In terms of customer service, Acorns offers a variety of support options, including phone, email, and live chat. The customer service team is available to answer questions about the app and provide assistance with investing and other topics.
In terms of security, Acorns offers two-factor authentication to help protect user accounts. The app also uses encryption to protect user data, and it has a strict privacy policy that helps protect user information.
Overall, Acorns is a good app that's particularly useful for new investors and can help people learn about the benefits of saving and investing, even in small amounts. The app offers a variety of features that make it easy to start investing, such as portfolio diversification and automated investing plans. It also has a range of educational resources and customer service options to help users get started.
The downside of Acorns is that it charges an expensive monthly fee compared to other investing platforms. Additionally, the app does not offer the same range of features as some of its competitors, such as Robinhood or Stash.
Overall, Acorns provides a lot for the fees you pay, including RoundUps to effortlessly move money into your invest account with each purchase as well as a range of educational resources and customer service options. The app is also well-suited to new investors who are just getting started with investing.
Bottom line: Robinhood is best for DIY traders who value low fees and flexible invest options. Acorns better serves hands-off investors who want to get started with investing and learn more about the stock market, but who don’t want to dedicate too much time to researching stock.
For those who want to invest their money but don't know where to start, Acorns is an approachable platform for beginners. It has a simple interface and a micro-investing concept that allows users to invest small amounts of money with little effort. Additionally, the app has a range of educational resources and customer service options that make it a great choice for new investors.
Overall, Acorns is a good choice for new investors who want to get started investing without having to dedicate too much time and energy to stock selection. The app has a range of features, including portfolio diversification and automated invest plans, as well as a range of educational resources. It’s also well-suited to those who want to get into the habit of investing small amounts of money without having to make a big commitment.
