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WealthSimple vs Acorns

WealthSimple is a good robo-advisor with socially responsible and Halal investment options, though fees are high. How does it compare to Acorns? Read our comparison chart below.

WealthSimple offers auto-investing with support from real advisors, including a free portfolio review of all your finances. However, fees are higher at 0.5% for accounts $100k and less (and 0.4% for accounts over $100k). It also stands out by offering socially responsible and Halal investment options. There is no minimum to open an account.

While Acorns is geared towards young investors who have trouble saving. This investment app automatically rounds up and invests your spare change whenever you make a purchase. The service fee is waived for college students. Otherwise, the fee starts at $1/month for accounts under $5,000. There is no minimum to open.

Compare WealthSimple with Acorns, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 WealthSimpleAcorns
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WealthSimple

Acorns

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Get $10,000 Managed for Free for Your First Year - Learn More

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SPECIAL OFFER
Try Acorns Today! - Learn More

Read Acorns Review

 

Benefits and Features

Stock Trading Part of service fee. Free for college students for 4 years. No add-on trading fees.
Annual Fee0.5% for accounts up to $100k; 0.4% for accounts over $100kFree for college students; $1/mo for Acorns; $2/mo for Acorns + Acorns Later; $3/mo for Acorns + Acorns Later + Acorns Spend
Minimum Deposit
$0
$0
Phone SupportYes - M-Th 9a-8p ET; Fri 9a-5:30p ET
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
Yes
No
Assets Under Management
$2 Billion
$528 Million
Tax Loss HarvestingAvailable for accounts over $100,000
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Online Platform
Yes
Yes
iPhone App
Yes
Yes
Android App
Yes
Yes
Banking Acorns Spend checking account comes with a debit card and has no minimum balance requirement, no overdraft fees, and unlimited free or fee-reimbursed ATMs nationwide. $3/mo for Acorns + Acorns Later + Acorns Spend.
Mobile App 
Yes
Single Stock Diversification 
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
No
529 Plans
No
No
 

CreditDonkey® Reviews

 WealthSimpleAcorns
Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Social Responsibility
Pros & ConsPros:
  • Human advisors
  • No minimum investment
  • Socially responsible and Halal investment options
Cons:
  • Higher fees than competitors
  • No personal finance tools
  • Tax loss harvesting only to high balance accounts
Pros:
  • No minimum investment
  • Invest with spare change
  • Free for college students
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Bottom LineGood robo-advisor with socially responsible and Halal investment options, though fees are high... Read full reviewInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full review
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Get $10,000 Managed for Free for Your First Year

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Acorns: Pricing information from published website as of 04/04/2018

WealthSimple: Disclaimer: CreditDonkey has entered into a referral and advertising arrangement with Wealthsimple US, LTD and receives compensation when you open an account or for certain qualifying activity which may include clicking links. You will not be charged a fee for this referral and Wealthsimple and CreditDonkey are not related entities. It is a requirement to disclose that we earn these fees and also provide you with the latest Wealthsimple ADV brochure so you can learn more about them before opening an account.

Which is Better: WealthSimple or Acorns?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing WealthSimple or Ally Invest.

In short: WealthSimple's customer service is noteworthy.


Articles on WealthSimple


Articles on Acorns


Which Do You Think is Best?


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