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 operates as a financial advisor firm based in Irvine, California. Acorns has $6.3 billion in assets across 5.7 million client accounts, making it one of the biggest firms in the country by assets under management (AUM). Acorns has a large team, including 20 financial advisors. Acorns does not act as a registered broker-dealer, signifying that the firm cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer company to do so. Securities are exchangable fiscal investments such as options, equities and bonds.

    Acorns oversees the majority of the company's client assets in a discretionary manner. Discretionary management means that buy and sell decisions are made by an investment advisor without requiring the customer's consent. The company also oversees 90 non-discretionary accounts totaling $26,066 in AUM. Acorns manages an average of $1,099 for every customer account. The typical financial advisor at Acorns manages about 286,529 client accounts.

    The firm's main office is located at 5300 California Avenue, Irvine, California 92617. It is registered to serve customers throughout 51 U.S. states and territories.

    Assets Under Management

    $6.3 billion

    Number of Advisors

    20

    Disclosures

    No

    Office Location

    5300 California Avenue
    Irvine, CA 92617

    Acorns by the Numbers

    Total Assets Under Management

    $6.3 billion

    National Average: $8.6 billion
    Total Number of Employees

    490

    National Average: 64
    Total Number of Accounts

    5,730,587

    National Average: 375,227
    Average Account Size

    $1.1 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Financial advisory fees typically are based on the type of services provided. However, fees charged by the company typically consist of the following fee type: fixed. Acorns participates in a wrap fee program, in which the company offers a service bundle for a comprehensive 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 firm provides services to retail investors. Out of its 5,730,587 customers, Acorns's largest client group is retail investors. None of the firm's accounts reside abroad.

    • 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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