Acorns Unveils Automated Money Manager for Financial Wellness

Acorns Launches Revolutionary Money Manager

A smarter way to automate financial management is here. Acorns, the innovative financial wellness app, has just announced an exciting new feature called Money Manager. This tool is designed to streamline the financial experience for millions of users, allowing them to save, invest, and spend without the overwhelming burden of decision fatigue.

The Benefits of Money Manager

Money Manager takes the stress out of managing finances by automatically distributing customer deposits into various categories like savings, retirement, and investments as soon as funds are available in their Acorns accounts. The allocations are meticulously crafted by experts, ensuring that every dollar is working towards a brighter financial future.

Addressing Financial Anxiety

Noah Kerner, the CEO and Chairman of Acorns, stated, "For too long, managing money has been stressful and manual. We built Acorns Money Manager to automate the process of financial wellness so people can stop worrying about their money and start growing it." This launch is especially pertinent as many consumers face increased financial strains from rising costs, bills, and debt.

By leveraging advanced algorithms, Money Manager learns from users' financial behaviors and goals. It can help individuals make informed decisions about which accounts to open and how to allocate their funds effectively, taking a proactive approach towards saving for significant milestones. This automation also aims to reduce reliance on short-term borrowing options such as buy now, pay later schemes or credit cards, promoting healthier financial habits.

Early Success Stories

Acorns has reported promising early results from customers who had access to Money Manager. On average, early users are managing to save about $693 monthly for emergencies and investing an impressive $175 for their retirement, completely on autopilot. This level of saving is noteworthy, especially when considering that the median emergency fund for average Americans is just $600.

Additionally, with a significant percentage of Americans lacking sufficient retirement savings, these initial outcomes underscore how automation can bridge critical financial gaps. Users can now align their financial habits with their long-term aspirations more effortlessly.

Expanding Financial Wellness Services

Kerner highlighted that Money Manager represents a key evolution in Acorns' mission, transitioning from being a pioneer in micro-investing to a comprehensive system for financial wellness. This tool empowers users to take control of their finances through well-informed automation and thoughtful management.

Currently, Money Manager is accessible to all Acorns Gold Plan customers, marking a significant enhancement in the functionality of the platform. Those interested in exploring this new service can learn more about it through Acorns' official site.

About Acorns

Acorns is a unique financial wellness app that assists everyday individuals and families in saving and investing for the long term. Founded in 2014, Acorns has expanded into a global entity with various life-stage products tailored for kids, teens, adults, and parents. It has been honored as one of TIME's "World's Best Brands of 2024" and has supported over 14 million users in saving and investing more than $27 billion, much of which comes from spare change and minimal contributions.

As a registered investment adviser, Acorns offers investment advisory products and services through Acorns Advisers, LLC, while brokerage services are provided by Acorns Securities, LLC, both of which are registered with the SEC. Acorns is not a bank; it offers banking services through Lincoln Savings Bank and nbkc bank, both members of the FDIC.

Frequently Asked Questions

What is Acorns Money Manager?

Acorns Money Manager is a new automated tool that helps users manage their finances by splitting deposits into savings, retirement, and investment accounts seamlessly.

How does Money Manager benefit users?

It removes the stress of financial management by automatically allocating money according to users' financial goals and needs, promoting better saving habits.

Who can access Acorns Money Manager?

Money Manager is available for all customers enrolled in the Acorns Gold Plan, enhancing their financial wellness options.

What impact has Money Manager had on users?

Early adopters of Money Manager are saving an average of $693 for emergencies and investing $175 for retirement monthly, indicating a positive shift in their financial habits.

What are Acorns' main services?

Acorns provides various financial tools and products, including investment advisory services, brokerage services, and banking solutions aimed at helping individuals save and invest for their futures.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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