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Join date : 2022-10-27
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Acorn and its pros and cons Empty Acorn and its pros and cons

Wed Nov 23, 2022 4:49 pm
Acorns was founded in 2012 to offer an approachable way for young investors to start investing. The company’s platform automatically invests users’ spare change and allows them to deposit as low as $5 into its five ETF-diversified portfolios. Starting today, users can opt to invest up to 5% of their Acorns portfolio in the ProShares Bitcoin Strategy ETF, a futures fund that debuted on the New York Stock Exchange last year.

Pros
Risk-appropriate, low-cost investment portfolio options
Automatic savings features help nudge investors to save more
Easy-to-navigate interface

Cons
Fees are on the high side, depending on your total balance
No tax-loss harvesting or access to human advisors
You have to pay fees to access the checking account, unlike other leaders in the Robo-advisor space
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