Acorns is a personal finance company that offers investment and banking services. The company's app allows users to invest their spare change in a diversified portfolio of stocks, bonds, and ETFs. Acorns also offers retirement, checking, and savings accounts.
Acorns was founded by Jeff Cruttenden and Walter Cruttenden in 2012.
The original idea for Acorns was to create an investing platform for millennials.
The company has raised over $207 million in funding.
As of 2021, Acorns has over 9 million registered users.
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Acorns Invest is the company's flagship product that allows users to invest their spare change in a diversified portfolio of stocks, bonds, and ETFs.
Acorns Later is a retirement account that allows users to invest in a diversified portfolio of ETFs, with tax advantages for retirement savings.
Acorns Spend is a checking account that comes with a debit card, automatic savings features, and personalized investment advice.
Yes, Acorns uses bank-level security measures to protect users' data and investments. The company is also a member of the Securities Investor Protection Corporation (SIPC), which protects investors up to $500,000.
Acorns charges a monthly fee of $1, $3, or $5, depending on the plan selected. The company also charges a management fee of 0.25% per year on investment balances over $5,000.
Yes, users can withdraw their money at any time without penalty. However, it may take a few days for the funds to transfer to the user's bank account.
Yes, Acorns offers tax-loss harvesting for all users with a balance of at least $5000. This helps users offset taxable gains by selling losing positions and buying similar but not identical securities.
There is no minimum investment for Acorns. Users can start investing their spare change or make one-time investments of any amount.