Acorns is a smartphone app that helps users make investments -- small, micro-investments to be specific.
The app lets users select their desired risk-level -- from conservative to aggressive -- and a balance for their portfolio based on the selected risk level. Once the portfolio is set up, it is automatically managed by the Acorns app. Users can re-assess their risk tolerance over time as conditions change, and they begin to appreciate the consequences of their portfolio settings and risk level.
The app uses a proprietary brokerage and advisory engine that is set up to make micro-investing economically viable, and less prohibitive for potential investors. The program does not require a minimum account balance or trade commissions.
Acorns is hoping that this approach will encourage younger people to think more about investing early, and often.
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