Acorns is a robo-advisor that takes the concept of easy investing a step further, automatically investing users' spare change. The platform has more than 8 million members and offers an easy-to-use app, along with straightforward pricing and a feature-packed linked checking account. If you're looking to simplify your investing, our Acorns review will help you decide if it's right for you.
fool.com: Acorns ReviewIt's worth noting that while this flat-fee structure is somewhat unusual, Acorns invests clients' money in exchange-traded funds, or ETFs, just like most other robo-advisors do. And these funds have their own fees, or expense ratios, which range from 0.03% to 0.18% per year. To be clear, you never see these fees deducted from your account, but they're reflected in the performance of your investments.
Like other robo-advisors, Acorns takes the investing reins from the user. The app considers your data — including age, goals, income and time horizon — and then recommends one of five portfolios that range from conservative to aggressive. You can accept the recommendation or choose a different portfolio that takes more or less risk.