>Acorns is a financial-technology firm that allows customers with balances as small as $5 to invest in groups of funds based on their risk tolerance. Users link their debit- or credit-card accounts to Acorns, and the firm rounds up the users’ purchases to the nearest dollar and invests the change on their behalf.
So their entire business model is investing change from transactions into index funds? Why couldn't any major bank or credit card company implement this and blow them completely out of the water?
>Two of the seven ETFs that Acorns includes in its portfolios are run by BlackRock, while the remainder are run by Vanguard.
I guess I don't get who this service is for. People who want to invest but don't want to "invest" any of their time? Why not setup a Roth IRA and get the same thing but tax-free?
So their entire business model is investing change from transactions into index funds? Why couldn't any major bank or credit card company implement this and blow them completely out of the water?
>Two of the seven ETFs that Acorns includes in its portfolios are run by BlackRock, while the remainder are run by Vanguard.
I guess I don't get who this service is for. People who want to invest but don't want to "invest" any of their time? Why not setup a Roth IRA and get the same thing but tax-free?