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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 starts at $3/month for accounts. 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
 Learn MoreVisit Site
 

WealthSimple

Acorns

SPECIAL OFFER
$10 Sign-Up Bonus - Learn More

Read Acorns Review

 

Benefits and Features

Savings 
No
Stock Trading Part of service fee. No add-on trading fees.
Options Trading 
No
Annual Fee0.5% for accounts up to $100k; 0.4% for accounts over $100k
  • $3/mo for Acorns Personal (includes personal taxable account, IRA, and checking account)
  • $5/mo for Acorns Family (includes everything in Personal plus investment accounts for kids)
Cryptocurrency Trading 
No
Minimum Deposit
$0
$0
Checking 
Yes
Mutual Fund Trading 
No
Commission Free ETFs A selection automatically chosen by Acorns
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
Robo Advisor
Check
Yes
Assets Under Management
$2 Billion
$4.7 Billion
Tax Loss HarvestingAvailable for accounts over $100,000
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades Acorns automatically invest and trade for you
Good For Beginners; Passive investors; Those who have trouble saving/investing on their own
Inactivity Fee None, but you will keep paying the monthly fee
Maintenance Fee 
Monthly fee for the service
Online Platform
Yes
Yes
iPhone App
Yes
Yes (4.7 stars, 760k ratings)
Android App
Yes
Yes (4.3 stars, 156k ratings)
Banking Included in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.
Mobile App 
Yes
Two-Factor Authentication 
Yes
Locations 
No
Online Community 
No
Seminars 
No
Virtual Trading 
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 FeeStarStarStarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Human AdvisorsStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Social ResponsibilityStarStarStarStarStar
Mobile AppStarStarStarStarHalf Star
Ease of UseStarStarStarStarStar
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
  • Cash-back program
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
 Learn MoreVisit Site

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

Acorns: Pricing information from published website as of 09/28/2020.

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

Wealthsimple

Wealthsimple is a robo advisor with features you should not ignore. But are the higher fees worth it? Read this review to find out what this automatic investing service can do and the pros and cons.

Articles on Acorns

Acorns App

Acorns automatically invests your spare change. But can it help make you money? Find out if this app is safe and legit.

Is Acorns Legit

Acorns lets you invest spare change from every purchase. But is it safe to use? Learn just how secure the micro-investing app is.

How to Make Money Using Acorns

Acorns "rounds up" everyday purchases and invests it for you. What's the catch? Read this review to find out how to make money using the app.

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