At the core of the service is Acorns Invest, a robo-advisor that automatically builds and manages a diversified portfolio of low-cost exchange-traded funds (ETFs) based on an individual’s goals, risk tolerance, and time horizon.
One of its most distinctive features is Round-Ups, where users link a debit or credit card, and every purchase is rounded up to the nearest dollar. Once these round-ups hit $5, this is automatically invested into the portfolio. In addition to Round-Ups, Acorns supports one-time and recurring deposits.
Acorns’ portfolios are based on modern portfolio theory, a mathematical framework that builds an investment portfolio to maximize the expected return for the level of risk.
The portfolios include a range of ETFs across multiple asset classes, including stocks, bonds, real estate, and, in some tiers, limited exposure to Bitcoin via a bitcoin-linked ETF. Portfolios are rebalanced automatically.
Beyond investing, Acorns also offers access to individual retirement accounts (IRAs) through Acorns Later, custodial accounts through Acorns Early, and integrated banking features through Acorns Checking.
All services are managed through a single mobile app experience, and features expand based on the user’s subscription tier (personal, personal plus, or premium).
What are the pros and cons of Acorns?
Acorns offers a hands-off, beginner-friendly investing experience that automates savings and investing through features such as Round-Ups and recurring deposits.
The platform is well-suited for users who prefer a simplified financial solution that combines investing, banking, and retirement services.
However, its flat monthly fee structure may not be ideal for users with low account balances, as it can result in disproportionately high fees.
Here is a breakdown of the pros and cons:
Pros of Acorns:
Effortless micro-investing: Round-Ups automatically invests spare change from everyday purchases.
No minimum to open an account: Users can begin investing with as little as $5.
Diversified ETF portfolios: Portfolios include a range of low-cost ETFs across multiple asset classes.
Automatic rebalancing: Acorns maintains portfolio allocations without manual intervention.
Bundled financial services: Access to IRAs, custodial accounts, checking, and high-yield savings are available through upgraded plans.
You can earn rewards: Users can receive cashback investments when shopping with select retail partners through the Acorns Earn program.
Integrated mobile app: All services, including investing, banking, and retirement, are accessible in one place.
Cons of Acorns:
Flat fees can be high for small accounts: Even a fee of $3 to $12 per month can represent a large percentage for those with small balances.
No tax-loss harvesting: Unlike many other robo-advisors, Acorns does not offer this.
Limited portfolio customization: Users cannot select individual ETFs or exclude specific sectors, so it’s not ideal for those who want more control over investments.
Transfer-out fees: A $50 per ETF fee applies when transferring assets to another brokerage.
No access to human financial advisors: Even with premium tiers, there’s no option for dedicated consultations with a certified financial planner (CFP).
How much does Acorns cost?
Acorns uses a flat monthly subscription model, which differs from percentage-based advisory fees typically charged by other robo-advisors.
While this pricing can be affordable for users with larger account balances, it can result in a high effective cost for those with smaller portfolios.
Acorns offers three subscription tiers, which are detailed below.
| Plan | Monthly fee | Features |
|---|---|---|
| Personal | $3/month | Includes Acorns Invest (automated investing), Acorns Later (IRA accounts), and Acorns Checking (banking features with no overdraft fees and access to 55,000+ ATMs). |
| Personal Plus | $6/month | All features in the personal plan, plus emergency fund planning, high-yield savings, and IRA contribution matching (conditions apply). |
| Premium (formerly Family) | $12/month | Adds Acorns Early (custodial accounts for children), priority customer support, estate planning tools, and live educational sessions. |
Acorns also has some additional costs, including ETF expense ratios, a $50 transfer-out fee, and no trading commissions for managed portfolios:
ETF expense ratios: Acorns portfolios include ETFs with underlying fund fees that typically range from 0.04% to 0.22%, depending on portfolio composition. These are charged by the ETF providers and are not retained by Acorns.
Transfer-out fee: Acorns charges $50 per ETF when users request to transfer their investments to another brokerage.
No trading commissions: Acorns does not charge commissions for buying or selling within its managed portfolios.
In summary, while the flat-fee model offers predictable costs, it can lead to disproportionately high fees as a percentage of assets for smaller accounts. For example, a $3/month charge on a $500 balance equals a 7.2% fee annually, significantly higher than the industry standard of 0.25% to 0.40% for asset under management (AUM) based robo-advisors.
In comparison, percentage-based robo-advisors such as Vanguard Digital Advisor charge around 0.15% annually, which can be more cost-efficient for larger portfolios.
What is the minimum account size for Acorns?
Acorns has a low barrier to entry, making it accessible for new investors who may not have large sums of money to begin with.
The platform does not require a minimum balance to open an account, and investing begins automatically once the account reaches $5.
The minimums broken down by requirement are below.
Minimum to open an account: $0, so people can sign up without funding their account immediately.
Minimum investment threshold: $5. Investments are made once Round-Ups or deposits reach $5.
IRA and custodial accounts: No additional minimums are required beyond the standard $5 investment threshold.
Subscription tier access: All tiers (personal, personal plus, premium) are accessible regardless of account balance. However, features such as IRA matching and custodial accounts require a higher-tier subscription.
Although there are no asset minimums, users should consider how the flat monthly fee impacts their investment growth, particularly at lower balances.
Who should choose Acorns?
Acorns is worth considering for beginner and passive investors who want an easy, automated way to start saving and investing without needing to manage their portfolios actively.
It is particularly well-suited for individuals who struggle to consistently save money, as the round-ups feature turns everyday purchases into investment contributions.
This service may be ideal for:
First-time investors: Acorns simplifies investing with minimal setup, no investment decisions required, and automated portfolio management.
Budget-conscious users: Those who struggle to save regularly may benefit from Round-Ups and recurring deposit automation.
Mobile-first users: The platform is built around its mobile app, making it easy to manage finances on the go.
Long-term savers: Users planning for retirement or saving for their children’s future can access IRAs and custodial accounts through upgraded plans.
Individuals looking for an all-in-one solution: Acorns bundles investing, retirement, banking, and savings into a single platform.
However, Acorns may not be the right fit for:
Investors with large portfolios: The platform lacks advanced features such as tax-loss harvesting and personalized portfolio construction.
Hands-on investors: Acorns does not allow the selection of individual ETFs or sector exclusions.
Cost-sensitive investors: Flat monthly fees can affect lower account balances.
While Acorns may be a good fit for beginners and hands-off investors, those comparing robo-advisors might also want to explore alternatives such as:
Vanguard Digital Advisor – low 0.15% annual fee
Fidelity Go – $10 starting balance, integrated with Fidelity accounts
Schwab Intelligent Portfolios – no advisory fees, higher minimum balance
Wealthfront – includes tax-loss harvesting and advanced features
Merrill Guided Investing – percentage-based pricing with advisor access
SoFi Automated Investing – low costs plus access to financial planners
Acorns: is it secure?
Yes, Acorns is considered a secure platform for both investing and banking. The company employs multiple layers of security to protect users’ data and funds.
Investment accounts held through Acorns are protected by Securities Investor Protection Corporation (SIPC) insurance, which covers up to $500,000 in securities (including up to $250,000 in cash) in the event the brokerage fails.
Note that SIPC protection does not cover losses due to market fluctuations.
For banking services, Acorns partners with Lincoln Savings Bank, a member of the Federal Deposit Insurance Corporation (FDIC).
Cash held in Acorns Checking and savings accounts is insured by the FDIC up to applicable limits, which is currently $250,000 per depositor, per insured bank.
From a digital security standpoint, Acorns uses 256-bit encryption, secure socket layer (SSL) protocols, and multi-factor authentication (MFA) to safeguard sensitive information.
Users can enable biometric login (such as face ID or fingerprint) on mobile devices, and the app automatically logs out after a period of inactivity to prevent unauthorized access.
Acorns: customer service
Acorns offers several customer support channels to assist users with questions about investing, account management, and technical issues.
While the platform is designed to be low-touch and mostly automated, support is available through the following methods:
Live chat: This is available via Acorns’ mobile app and website during business hours.
Email support: Users can submit inquiries via email and typically receive a response within one to two business days.
Online help center: Acorns has a searchable FAQ and help section that covers topics such as deposits, withdrawals, account setup, tax documents, and security.
In-app support: Users can also access support tools directly in the mobile app.
Higher-tier subscribers (such as those on the premium plan) may receive priority support and access to live educational sessions with financial educators, but Acorns does not offer phone-based customer service or one-on-one consultations with financial advisors.
Other robo-advisors provide direct access to certified financial planners, such as Betterment and Charles Schwab. Acorns’ support model is more limited and best suited for users who are comfortable managing their accounts independently.
Acorns: what are real customers saying?
Acorns receives mixed reviews from users across major platforms such as Reddit, Trustpilot, and the Better Business Bureau (BBB).
Many customers praise the platform’s ease of use and its encouragement of saving through automation. However, others express concerns about the cost structure and limited customization.
Reddit user insights
On Reddit, several users have shared positive experiences with Acorns’ Round-Ups feature, stating that it helped them build an investment habit without much effort.
“Honestly, I never noticed the money leaving my account. Round-Ups make it easy to invest without thinking about it.”
Others, however, are critical of the monthly fees, especially for smaller account balances:
“I was paying $3 a month, but my balance was only around $400. That’s more than 9% annually just in fees. Moved to another platform.”
A few users also mention concerns over portfolio performance and lack of transparency regarding fund allocation:
“Returns were decent during bull markets, but the high cash allocation and no tax optimization really drag things down in the long term.”
Trustpilot and BBB reviews
On Trustpilot, Acorns has an average rating of approximately 2.8/5, based on a range of reviews.
Common complaints include:
Delays in fund withdrawals
Lack of phone support
Confusing fee structure
However, satisfied users frequently highlight the simplicity of the app and how Acorns helped them start investing for the first time.
On the BBB, Acorns is not currently accredited, and its profile contains a mixture of user complaints and company responses. Some complaints relate to account closures and delays in customer service response times.
Key takeaways from real customer reviews
Acorns earns praise for its ease of use and ability to turn saving into a habit.
However, some users report frustration with:
The flat monthly fees for small portfolios
Limited control over investments
Slow withdrawal times and limited support channels
Acorns: mobile app
Acorns’ mobile app serves as a central hub for all user interactions with the platform.
Available on both iOS and Android, the app allows people to manage their investments, monitor account activity, view round-up contributions, and access banking and retirement features from a single interface.
Key features of the app include:
Round-Ups tracking: Users can see how much spare change is being invested from linked debit or credit card purchases.
One-time and recurring deposits: Users can easily set up daily, weekly, or monthly contributions to investment or retirement accounts.
Account monitoring: Track portfolio performance, asset allocation, and transaction history.
Banking integration: Manage Acorns checking accounts, view direct deposits, and find fee-free ATMs nearby.
Financial education: Premium users can access live sessions and educational content through the app.
Security: Supports biometric login (Face ID or fingerprint), encryption, and automatic logout.
While the Acorns app is highly rated for simplicity and user experience, it may lack some of the advanced analytics, forecasting tools, or portfolio comparisons offered by more sophisticated platforms like Betterment or Wealthfront.
However, for users seeking ease and automation, it delivers a clean and intuitive experience.
Is Acorns worth it?
Acorns is a decent option for hands-off investors who are looking to build long-term savings and investing habits with minimal effort.
Its Round-Ups feature, low entry point, and bundled financial tools make it especially attractive for beginners, younger users, or anyone struggling to save consistently.
The platform’s subscription model can be cost-effective for those who use its full suite of services, such as retirement accounts, custodial investing, and checking. However, it may be expensive for those with smaller balances, as flat monthly fees represent a high percentage of invested assets.
Ultimately, Acorns is worth considering for those who:
Value simplicity and automation
Prefer an all-in-one solution for investing, banking, and retirement
Do not require advanced tax strategies or investment customization
Are starting their financial journey
For experienced investors or those managing larger portfolios, other robo-advisors with more sophisticated features and scalable pricing may offer better long-term value.
Source:
https://www.acorns.com/learn/acorns/is-acorns-safe/
https://www.acorns.com/pricing/
https://www.acorns.com/invest/