Empower, previously Personal Capital, is a US-based and SEC-regulated trading platform and advisory firm. Clients can access pensions, robo-advisors and do-it-yourself investing in stocks, mutual funds, fixed-income products and ETFs. Millions of clients trust Empower with their long-term investments, attracted by the suite of free financial planning tools and excellent reputation.
Acorns is a US-based investment platform launched in 2012. This SEC-registered firm aims to make investing more accessible for anyone looking to start small, catering to a range of savings goals. With over 9 million clients, the firm has earned a strong reputation and is backed by a number of well-known investors and economists.
Comment by Reviewer
"Empower is best for hands-off investors looking for a US-regulated platform and robo-advisor with free financial planning services. However, investors need to be willing to make a large minimum investment and pay higher than average fees for premium services."
"Acorns will meet the needs of US traders looking for flexible investment portfolios with simple flat fees and low entry requirements."
Award-winning customer support team
Intelligent budgeting and portfolio management tools
Empower's advisory services are regulated by the SEC
Millions of active users and good industry reputation
Highly rated mobile app available on Apple and Android devices
Beginner-friendly financial dashboard with customizable widgets
Robo-advisor service with pre-built portfolios and investment strategies
Acorns Visa debit card included with all subscriptions plus a banking and investing app
Earn bonus investments from popular brands when you shop their offers using your Acorns card
Strong regulation from the SEC and membership with FINRA/SIPC, plus FDIC insurance up to $250,000
Flat $3 monthly fee, plus no hidden charges, minimum balance fees or overdraft penalties
Five risk levels from Conservative to Aggressive and a range of savings accounts
Bitcoin-linked ETF offering exposure without owning BTC
Welcome bonuses and financial incentives
Limited choice of payment methods with only wire transfer
0.49% - 0.89% management fees are high vs alternatives
$100,000 is needed for the robo-advisor service
No forex, commodity or crypto trading
No demo account for prospective users
Only available in the US
Cannot manually change or choose investments
Narrow choice of trading instruments with no forex
Monthly fee might be high for those with smaller balances