Sofi Invest is truly a “one stop shop” for investing. It offers an online brokerage, roboadvisor (fee-free), crypto, access to IPOs, and social investing. This is a good option for active investors who want to diversify their investing approach between individual stocks, ETFs, automated investing and crypto.
Why we like SoFi Invest:
Free access to 1:1 resources
Provides free 1:1 access to financial planners who are fiduciaries, which means they are required by law to keep your best interests in mind. Free career counseling plus loan discounts with qualifying deposit.
No investment management fee on roboadvisor. Note: SoFi earns interest from uninvested cash held in accounts, through an FDIC program that also helps keep Members’ cash safe.
One stop shop investing
SoFi It offers an online brokerage, roboadvisor, crypto, access to IPOs, and social investing. This is a good option for active investors who want to diversify their investing approach between individual stocks, ETFs, automated investing and crypto.
Commission free trading of stocks and ETFs. But other account fees may apply (i.e., regulatory, account closure).
Account Minimum + Insurance
$1 account minimum. SIPC insured.
Things to consider
Not beginner friendly
Given extensive list of account options and features, the platform may not be easy to navigate for beginners.
Roboadvisor has only been around since 2017, so limited history.
Roboadvisor invests in proprietary ETFs that may charge high fees than other comparable ETFs.