Brief History

Acorns is a micro-investing brokerage company originally founded by Walter and Jeff Cruttenden, and launched on August 26, 2014 with the goal of making investing accessible to everyone. Since then Acorns has grown exponentially with 3.7 millions users with accounts and the current CEO Noah Kerner has ambitions to increase this number to 100 million!

Acorns was one of the first brokerage institutions to introduce the concept of micro-investing and rounding up the “spare change“ of debt transactions for investing. Acorns is targeted toward a millennial audience in particular, however their applications’ emphasis on ease of use and limited, but expertly managed investments options make them a great option for anyone interested in starting to invest without having to commit time to learning anything new.

On May 30, 2018, Acorns branched out into retirement investing and on November 1, 2018 Acorns made it’s entrance into the banking industry as well, starting their own online bank called Acorns Spend.

Security (Is my money safe?)

Acorns is operated by Acorns Advisers, LLC, and is registered with the United States Securities and Exchange Commission as an Investment Advisor. All investments made with Acorns Advisers are insured by the Securities Investor Protection Corporation (SIPC). You can learn more about what SIPC insures here.

Acorns has excellent bank grade security with all their platforms using 256-bit encryption and physically secured servers for your privacy. Acorns security is also supplemented by multi-factor authentication, automatic logouts, and ID verification help prevent unauthorized access.

Expenses & Fees

Acorns definitely isn’t the best brokerage in terms of fees and expenses, but they are on the cheaper end and much more forthright than traditional brokerages with no hidden fees.

Acorns pricing is very straightforward at just $1 per month for the core taxable investment account and $2 per month for both the taxable account and the retirement IRA account. It is also worth noting that Acorns offers FREE accounts to college students in the spirit of supporting the up-and-coming !


Example of how Acorns’ round-ups work

Example of how Acorns’ round-ups work

  • Free Accounts for college students

  • Fees are at most $2 a month

  • No prior investment knowledge required

  • Extremely user-friendly web and mobile interface

  • No minimum investment needed to open an account

  • No upkeep after setup, Acorns is an almost completely passive way to save and grow your money.

  • Round-Ups: The ability to save by Acorns rounding your debt transactions to the nearest dollar is a pretty neat feature to save passively.


  • Extremely limited investment options

  • Extremely limited control over investments

  • Fee is relatively high with low account values

  • No tax benefits

Conclusion | Our thoughts

Here at we Budget Geek we believe in making finance easy, and Acorns does an excellent job at taking all the hard work out investing and making it easy and approachable to people who might not be finance savvy. Overall Acorns is an amazing way to get started investing without the hassle of having to learn a whole lot. We believe the main downside to Acorn is it’s lack of flexibility for investors who will otherwise grow out of it and eventually want a platform that offers more control over investments and more investment options. If you decided you liked this review and you’d be interested in trying out Acorns, you can support us by signing up with this link.

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Last updated on April 26, 2019