Acorns Clone- Boost Your Return on Investment by Creating an App like AcornsAuthor Acorns Clone, Business, Delivery App Development, Technology
Finance is one of the most crucial aspects of every person’s life. Not everyone has sound financial knowledge and can struggle without any savings post-retirement. This is what Acorns, a pioneer in financial services used by more than 9 million user’s aims to change. It offers various solutions like investment management, portfolio management, robo-investing, and assistance in retirement savings for both individuals and families.
The global market for personal finance software is all set to rise to a humongous $1.8 billion by 2030. The promising industry will grow by 6.1% every year in the next decade. Acorns will be an important player in this segment due to the huge demand for BFSI services, digitization of the economy, and the need for people to have a budget-friendly lifestyle.
Some of the latest news related to Acorns is
- Acorns bought a Fintech startup named Harvest that focuses on granting credit to consumers and reducing debt.
- More investors are utilizing its robot investment services for automatic diversification of funds and rebalancing of portfolios without any human intervention.
- There has been a large number of takers for the Individual Retirement Account (IRA) offered by Acorns after acquiring Vault Investments.
- Acorns have a whopping 1.6 million users in the age group of 18-34.
Entrepreneurs aiming to offer innovative financial solutions can get started with Acorns clone app development by joining hands with the experienced developers of Appdupe. An app like Acorns can be instantly launched in the target market giving the entrepreneurs a huge competitive advantage.
The fabulous features of the Acorns Clone App are
- Acorns Lite – It ensures the easy opening of investment accounts on the platform for customers. Acorns Lite is a monthly subscription plan that includes automatic recurring investments and exclusive access to insightful financial articles written by finance professionals.
- Acorns Personal – It offers assistance to manage savings of senior citizens post-retirement. The Acorns Personal is also a monthly subscription plan. It covers the opening of retirement accounts, ensuring tax savings, bonuses from investments, easy withdrawal of funds from ATMs, a metal debit card, and advice from financial experts.
- Acorns Family – It is a customized plan for small and large families. Three different accounts, Personal, Retirement, and Checking accounts will be opened for the users. The advantages comprise tax rebates and flexible fund management.
- Acorns Early – It is a growth-oriented investment plan for kids. Recurring investments can be automatically set on a daily, weekly, or monthly basis. The Acorns Early plan complies with the regulations of the Uniform Transfers to Minors Act (UTMA) and the Uniform Gifts to Minors Act (UGMA). Partnerships are also provided with Disney+ learning and ABCmouse.
- Smart Portfolio management – The users can invest their funds in either low-risk or high-risk stocks and bonds. The investors can put money on large and small company stocks, emerging market stocks through Exchange Traded Funds (ETF), real estate stocks, corporate, and government bonds.
- Tips for managing finances for Education – It offers solid financial advice for students to manage their money effectively. Tips are provided on taking advantage of tax breaks and unemployment allowances. Access is also given to the Grow magazine published by CNBC.
- Digital banking facilities – It offers users various options like direct deposits, acceptance of cheque deposits, free overdrafts, and mobile banking.
- Provision of insurance – The funds of investors are completely safeguarded through a $250,000 insurance provided by the Federal Deposit Insurance Corporation (FDIC). Additional safety measures include fraud protection and locking of the digital cards.
- Exclusive offers on online shopping – An app like Acorns offers savings for users when they shop for products and avail of services from the leading global brands like Apple, Airbnb, Expedia, Groupon, Nike, and Walmart.
- Implementation of top-notch security measures – The safety of funds and data of the investors is ensured by incorporating security steps like 256-bit encryption standards, Secure Sockets Layer (SSL), and two-factor authentication.
- Availability of 24×7 customer support – Technical support is rendered by experts in numerous languages via phone and email.
How does an app like Acorns function?
- The interested users have to register on the Acorns clone app and submit the required information. Details like bank accounts, phone numbers, credit history, and credit scores will be needed.
- An app like Acorns will confirm the registration of the user after verifying his/her background and documents thoroughly.
- They can start investing their funds starting from a minimum of $5 by choosing any of the plans (Acorns Lite, Personal, Early, and Family).
- The funds invested by the customers will be rounded off to the nearest dollar after they link their debit or credit card.
- Extra amounts earned from investments will be reinvested in affordable ETFs.
- More investment accounts can be opened by users by paying additional fees.
- A corresponding fee has to be paid by the investors to their respective fund managers based on the investment performance in terms of returns earned and capital appreciation.
- When users purchase products from different stores, the small change on their bills is reinvested by the app. The customers can automatically invest their round-ups for each online shopping order.
- A high return is earned when small amounts accumulate over a period after frequent purchases of goods by the investors.
- The returns are affected by certain factors like timeframe, the net worth of the investors, employment status, annual income, and long-term investment goals.
Are you facing any issues in Developing Acorns Clone App?
What are the various advantages provided by the Acorns Clone App?
- Solid financial backup – is ensured for the users to meet any kind of emergency and uncertainty effectively.
- Real-time tracking of the performance of investments – Alerts is sent regularly to the investors to check if their investment performance in different stocks and bonds are fulfilling their financial goals.
- Expert advice – Veteran finance managers and investment analysts will share their insights on the best investment opportunities for the customers by closely watching the market trends.
- Affordability – The various investment plans are highly pocket-friendly and there is no need for the users to pay a huge commission to the fund managers and investment advisors.
- Unique features – Someone-of-the-kind features offered by an app like Acorns include unlimited linking of debit and credit cards, an advanced future returns calculator, real-time tracking of expenses through advanced money management tools, and analytical reports for the admin.
What are the factors that can influence the total cost of Acorns Clone App Development?
- The nature of features added in the separate panels for investors, fund managers, investment advisors, and the admin.
- The total duration of development, that can be either a few weeks or a couple of months.
- The extent of API and SDK integration for data analysis.
- Cross-platform compatibility as the Acorns clone app can be used via Android, iOS, and web platforms.
- The hourly rate demanded by the developer team, that consists of business analysts, mobile app developers, marketing specialists, project managers, QA testers, technical support executives, and UI/UX designers.
- The step-by-step process of development methodology comprises business analysis, market study, creating the Minimum Viable Product (MVP), UI/UX designing, commencing front-end and backend development, rigorous testing, and final launch of the solution in the market.
Why choose Appdupe’s services for establishing an app like Acorns?
- Availability of a proficient developer team with good knowledge of the fast-changing finance industry.
- Provision of 24×7 support in numerous languages.
- Additional services like maintenance, bug-fixing, and issuing software upgrades are also provided.
- On-time delivery of the Acorns clone app without imposing any hidden charges.
- Confidentiality of the entrepreneur’s project is ensured by signing a Non-Disclosure Agreement beforehand.
Easy-to-use apps like Acorns help investors to manage their personal finances independently just from their smartphones. This ensures that they do not fall victim to frauds or scams as growth-focused financial advice is offered. Obtain your game-changing app like Acorns from Appdupe now and earn high returns at low costs soon.
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