Acorns is a financial wellness platform that aims to make investing and saving accessible for everyone, regardless of their income level. The company emphasizes that financial wellness isn't solely determined by how much money one makes but rather by how one manages their finances. With Acorns, users can engage in smarter spending, saving, and investing practices, all designed to create a balanced financial future.
To date, over 13 million Americans have collectively invested more than $22 billion through Acorns. The platform offers a straightforward setup process, allowing users to get started in less than five minutes by investing their spare change. Security is a top priority; Acorns uses features such as two-factor authentication, fraud protection, and data encryption. Investment accounts are also protected by the SIPC and checking accounts by the FDIC up to specified limits, providing users with peace of mind.
The app includes various investment options, such as automated investing into diversified ETF portfolios that are recommended based on individual financial goals. Users can take advantage of features like Round-Ups®, which allow them to invest spare change after purchases or automate contributions starting at just $5. Additionally, users have the opportunity to invest a portion of their portfolio in Bitcoin and can personalize their investments by choosing stocks from leading U.S. companies. Acorns also provides retirement and children's investment accounts, each with additional matching contributions available.
Acorns offers several subscription plans tailored to different financial needs. The Bronze plan provides essential tools for beginners, while the Silver plan enhances users' investing skills with added features and educational content. The Gold plan presents a comprehensive suite of resources for families, including investments for children and various bonuses. Along with these investment tools, Acorns promotes financial education through articles and live Q&A sessions, ensuring that users are well-informed as they pursue their financial goals.