Acorns

CRD#165926
Investment Advisor Firm

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Learn more about Acorns

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    Acorns is located at 5300 California Avenue, Irvine, CA. The firm employs 18 financial advisors to manage client portfolios and provide financial guidance. Acorns is not a registered broker-dealer.

    Acorns oversees $8.2 billion in assets under management across 5,763,237 accounts, of which 5,734,049 are discretionary and 29,188 are non-discretionary. The services offered include portfolio management for individuals and small businesses. The firm caters to retail investors and high net worth investors, with retail investors being the largest client type by accounts. The fee structure at Acorns is fixed. The firm has 7 high net worth clients and maintains affiliations with a broker-dealer or securities dealer.

    Acorns is registered in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

    Assets Under Management

    $8.2 billion

    Number of Advisors

    18

    Disclosures

    No

    Office Location

    5300 California Avenue
    Irvine, CA 92617

    Acorns by the Numbers

    Total Assets Under Management

    $8.2 billion

    National Average: $8.6 billion
    Total Number of Employees

    442

    National Average: 64
    Total Number of Accounts

    5,763,237

    National Average: 375,227
    Average Account Size

    $1.4 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Financial advisory fees typically are based on which service is offered. Fees charged by Acorns typically consist of the following fee structure: fixed.The company participates in a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 69% of firms that offer this fee type

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The company caters to retail investors and high net worth investors. Out of its 2 clients, Acorns's biggest client group by number of accounts is retail investors, though it also serves 7 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 in AUM or a net worth of at least $1,50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 0%
    • Other Individuals - 100%
    • Corporations - 0%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Acorns does not have any disclosures.

    Please visit its Form ADV for more details.

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