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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.

 WealthSimple
 Learn MoreLearn More
 

WealthSimple

Acorns

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Benefits and Features

Stock Trading Part of service fee: Free for college students for 4 years, $1/month for accounts under $5,000, and 0.25%/year over $5,000. No add-on trading fees.
Annual Fee0.5% for accounts up to $100k; 0.4% for accounts over $100kFree for college students for 4 years, $1/month for accounts under $5,000, and .25% per year over $5,000
Minimum Deposit
$0
$0 for basic Digital account; $50,000 for Premium account
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
No
Roth IRA Accounts
Yes
No
SEP IRA Accounts
Yes
No
Trust Accounts
Yes
No
529 Plans
No
No
 

CreditDonkey® Reviews

 WealthSimple
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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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

WealthSimple: Pricing information from published website as of 06/14/2018

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

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.


Explore WealthSimple In-Depth


Explore Acorns In-Depth


Which Do You Think is Best?


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