M1 Finance

Acorns Assets Under Management (AUM)

2021 Acorns investing app total assets under management. Acorns AUM: client assets and number of brokerage account users.

Acorns Assets Under Management (AUM)

Acorns app offers very easy online investing solution to clients who are looking for simplicity and don't want to put much time and effort into investing. So how many customers and how much in total assets under management does Acorns investing app have? Here are the numbers:

Acorns assets under management $4.7 billion
Acorns brokerage accounts number 4 million

Acorns is one of the largest robo-advisors in terms of the number of accounts. However, it is extremely small when it comes to total assets under management. In comparison, TD Ameritrade offers $0 commissions, and has $1.32 trillion AUM and over 11.5 million customers.

Acorns and Competitors

Acorns Complaints

Are you thinking about opening a brokerage account with Acorns? Some of the firm’s current and former customers have leveled several complaints against it. We’ve done some research for you, and here are the results:

Acorns’ Software Doesn’t Always Perform Round-Ups

The underpinning of Acorns’ business model is its round-up program. Clients make purchases with debit/credit cards, and the transactions are rounded up to the nearest whole dollar, and the change is deposited into an Acorns account. Some customers have complained that this service isn’t always done. Acorns’ solution to unlink a card and re-link after 72 hours apparently doesn’t always fix the problem.

Clients who don’t get round ups have accused Acorns with nevertheless charging a monthly fee, which is supposed to pay for the round-up service.

One customer has reported that a single round-up transaction resulted in multiple debits from the linked bank account.


Problems with the Monthly Fee

Customers have complained that they weren’t aware of the company’s fee or the app they downloaded didn’t list any fees. Acorns does charge a monthly fee (between $1 and $3), and this policy is stated on the broker’s website.

Problems with Linked Bank Account

Some Acorns clients have grumbled that they had difficulty unlinking a checking account from their Acorns account, or that the monthly Acorns fee caused their linked bank account to go into negative territory; and this in turn resulted in overdraft fees, which Acorns refused to reimburse.

Mediocre Customer Service

Acorns clients have condemned the broker for the service they have received when trying to resolve one problem or another. For example, one customer claimed that they requested Acorns to close their account, only to discover that Acorns continued withdrawing monthly account fees after the request.

Other account holders have lamented that there is no customer service number on the Acorns website or debit card. We took a look at the website and sure enough, there is no contact number.

There is a Question & Answer section on Acorns’ website, and here we were able to find many commonly-asked questions with answers from the broker. Nevertheless, there clearly is a lack of contact channels with this brokerage house.

Customers have reported sending e-mails to customer service without getting any response. One client complained that they were required to use an e-mail form to report fraud, something that should be reported immediately.

Account Performance

Some customers have protested that their account balance went down even during a bull market. How could this happen? There are six ETF’s available (an S&P 500 fund, a REIT fund, a bond fund, a small cap fund, a Treasury bond fund, and an international fund) plus Acorns’ monthly account fee. Depending on the portfolio allocations, there could be a drop in value.

Acorns Investing Review


Stash Invest is a similar service that lets customers auto invest with round ups. There is a monthly fee. For some packages the fee can be as high as $9 per month or a percentage of assets; but there are more account types. And Stash customers also earn fractional shares of stocks and ETFs based on debit card transactions. While Stash does limit its stock and ETF selection, there are definitely more investments available on the Stash platform than at Acorns.

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