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Acorns Grow, Inc., simply known as Acorns, is an online-based investment company based in Irvine, California. Acorns was launched in 2012 and offers investment accounts, in which clients can automatically invest their spare change into five different portfolios designed by Nobel Prize-winning economist, Dr. Harry Markowitz. Besides investment accounts, the company offers IRAs and checking accounts, and other account-related services like IRA and 401k rollovers.
$0 commissions and no management fee
- Provides 1% cash back with M1 Plus
- Allows users to buy fractional shares
- Insured by the SIPC and the FDIC
- Offers over 80 expertly curated investment portfolios for beginners
One of the main perks of opening an IRA account with Acorns, is that consumers can sign up for automatic Round-Ups, which allows them to link any checking account or eligible card and make contributions to their accounts using their spare change. Acorns also offers some of the lowest fees in the industry, since it doesn’t charge commission or trading fees.
The company has a cash back program, and online and mobile account management, which is highly convenient. Additionally, IRA and 401k rollovers are also available. However, consumers should be aware that the company only offers customer support via email, which can be very limiting. Still, all things considered, Acorns is a great choice for those who want flexibility and affordability when it comes to saving money for retirement.