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Paladin Research Report for: Acorns

Acorns

Paladin Transparency Index (PTI)

4.5

Data compiled from company, regulatory agency (SEC, FINRA), and third party websites. Did Not Disclose (DND) means Paladin could not find this information on the Internet. Advisory firms can submit updated information to Paladin Research. Paladin will update the OFA report if it can validate the information.

  • Type of Financial Firm: Online Financial Advisor (OFA)
  • URL: www.acorns.com
  • Year Established: 2014
  • Headquarters Location: Irvine, CA
  • Most Recent Update: 8/11/15

Types of Financial Services

  • Investment Advice and Services

Registration & Licensing

  • SEC: 801-78602
  • CRD: 165926
  • IARD: 165926
  • Disclosures (SEC.gov): None

Contact Information

  • Email: info@acornadvisers.com
  • Telephone: 855-739-2859
  • Human Contact: Yes
  • Type of Contact: Email, phone, web chat, twitter

Minimums

  • Minimum Asset Requirement: None
  • Minimum Fee: None
  • Free Offer(s): Students and anyone under 24 do not pay management fees on any size account.

Combined Fees

  • Service Initiation Fees: None
  • Annual Fee: Annual wrap fee .25% for balance of $5000 or more. Accounts under $5000 pay $1/month.
  • Annual Third Party Fee(s): Some ETF's charge fees.
  • Examples of Third Parties: ETF's, Index Funds, Mutual Funds, Broker/Dealers

Scope of Business

  • Number of Users: 49,800 (Source: ADV, as of 8/11/15)
  • Assets (Paid): $55,000,000 (Source: ADV, as of 8/11/15)
  • Assets (Free): None

Investment Services

  • Number of Portfolios: 5
  • Types of Investments: ETF's
  • Investment Managers: Acorns

Additional Investment Services

  • Data Aggregation Services: No
  • Tax Loss Harvesting: DND
  • Rebalancing: Yes
  • Account Liquidity: 5-7 Days to Process
  • Investor Discretion: No

Additional Information

  • Clearing & Custody: Acorns Securities
  • Mobile Application: Yes

Paladin Transparency Rating (PTI)

  • 4.5

Interview

  • None

Comments

  • Acorns helps you proactively invest. They round up each of your transactions to the nearest dollar, and invest the change into a diversified portfolio. Simply connect a credit card, or debit card and a checking account, and tell them about yourself. They will automatically recommend a stock portfolio based on information like your age, time horizon, investment goals and the amount of risk you’re comfortable taking.

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