Top Rated For

澳洲幸运5开奖号码历史查询:Best for Access t🙈o Licensed Financial Advisors

Our Take

Founded in 2011, SoFi launched its Automated Investing platform i🥀n 2019 to make investing accessible and easy for anyone looking to get started. While SoFi Automated Investing lacks customization and tax-loss harvesting features, its cost-effectiveness, robust portfolio models built in partnership with BlackRock, and solid product ecosystem make it one of the top robo-advisor platforms on the market. New investors can get started with as little as $50.

The goal of SoFi Automated Investing is to help members tailor a strategy specifically geared to their risk tolerance and goals. In addition to its low-cost investment options, SoFi Automated Investing users are also given access to free consultations with Certified Financial Planners (CFPs), extensive educational resources, events, discounts, and other perks. SoFi Automated Investing is also part of the wider SoFi financial ecosystem, which includes self-directed trading, loans, bank accounts, and more. One major change to the SoFi platform in 2023 was the Active Investing platform dropping cryptocurrency, although this was never made available through the Automated Investing robo-advisory. We'll take a deep dive into SoFi Automated Investing to find out if it is the right fit for your portfolio needs.

Pros & Cons

Account Overview

Account Setup

Investors who’d like to set up a SoFi Automated Investing account can do so completely online, and investing accounts can be seamlessly integrated with other SoFi accounts. You can set up an account with an email and a password. After that, you complete a quick survey to establish your risk level and financial goals. The minimum deposit required to start investing is $50. New clients can also see their portfolio options bꦿefore opening an account. 

There are several account types available, including individual taxable accounts and the standard retirement accounts. To complete aꦉccount setup you will need to enter the rest of your personal information, including your Social Security number. Keep in mind that once you have your account running, the only way to change your portfolio is by altering your risk tolerance.

Goal Planning

When you invest using SoFi Automated Investing, you can do so in pursuit of a wide range of goals. SoFi has goal planning resources and calculators in the Learn section of its website, but the A🉐utomated Investing platform does not offer retirement planning tools in-platform, nor does it have planning tools for large purchases like a home, vehicle, or college. Members do get compli🧸mentary access to credentialed financial planners who can discuss their goals. SoFi also offers tools for credit score monitoring, spending breakdowns, financial insights, and property tracking.

For shorter-term goals, users can also set up a SoFi checking and savings account, the latter of which offers zero account fees, a high APY (3.80% as of February2025), and the ability to save for various goals through syncing funds called Vaults. Vaults can be created for various goals, such as a car, house, or emergency fund, and members can set up Autopilot to automate savings.

Account Services

SoFi Automated Investing currently supports six account types: individual (non-qualified) investment accounts; joint accounts that can be held by two people; and tax-advantaged retirement accounts, including traditional IRAs, Roth IRAs, and 澳洲幸运5开奖号码历史查询:simplified employee pensions (SEP-IRAs). SoFi also accepts rollovers from previous employer 401(k)s into an IRA.

Clients investing through SoFi can combine self-driven trading and robo-investing with a wide array of cash management and portfolio tools. Investors can only use margin with a SoFi Active Investing account at a 11.00% annual rate (as of February 2025), and charitable giving options are not available for either account. SoFi Automated Investi🌳ng clients do not get discounts on other products or services, like𒐪 lower interest rates on loans, for example.

Cash Management

SoFi Automated Investing doesn’t offer automatic sweeps, and none of the Automated Investing portfolios have a cash allocation. The entire balance is invested across the suggested ETFs. However, Automated Investing usersꦿ who need cash management can access checking and debit banking services and integrate automated accounts with banking or brokerage accounts for easy account transfers. 

If you need to access your money, you can initiate a withdrawal at aꦕny time. Transactions will settle two business days after trades occur. Once trades settle, funds are automatically sent to your specified account, though it can take a few days for the funds to reach your bank account.

Portfolio Construction

SoFi’s Automated Investing portfolios are built in partnership with BlackRock Inc., the world’s largest asset manager, and are designed, among other things, to help smaller clients gain exposure to funds and strategies often reserved for well-capitalized investors. When you set up a SoFi Automated Investing account, there are three model portfolios to choose from: Classic, Classic with Alternatives, and Sustainable. With each model you also get to pick one of five risk profiles: conservative, moderately conservative, moderate, moderately aggressive, and aggressive. Each portfolio involves a mix of ETFs across various asset classes. The rough outlines of the portfolios align with 澳洲幸运5开奖号码历史查询:modern portfolio theory (MPT), with conservative portfolios potentially being 100% bond ETFs and aggressive portfolios potentially made up of 100% stock ETFs. All the other portfolios are mixed between t꧟hose extremes.

Available Assets

Portfolio Customization

As far as customization is concerned, Sofi Automated Investing’s offering is limited and portfolios are generally based on one of SoFi’s three predesigned models: Classic, Classic with Alternatives, and Sustainable. For better control of their portfolios, users will instead need to invest through the SoFi Active Investing platform. Both SoFi Active and Auto♕mated plat𒆙forms lack direct access to cryptocurrency.

In addition, Sofi Automated Investing customers cannot place trades for individual stocks, mutual funds, fixed-income products, or other asset classes like crypto and forex. However, they can open a SoFi Active Investing account to gain access to the range of products and services available under the SoFi umbrella, including self-directed brokerage accounts for crypto, IPOs, approximately 4,000 individual stocks, and a wide range of ETFs. If you are looking for customization and margin, you can read our full review of the 💃self-directed SoFi Active Investing.

Portfolio Management

SoFi Automated Investing portfolios are rebalanced automatically as needed, triggered by a portfolio drifting beyond a target allocation. Outside𝕴 of Automated Investing, SoFi Relay is an account consolidation program that pulls SoFi accounts and external accounts into a single financial picture. This𝓀 data is not used to adjust how SoFi Automated Investing rebalances your portfolio, but it is a worthwhile tool within the larger SoFi platform. Real-time reporting on progress toward goals is not available, nor is tax-loss harvesting.

User Experience 

SoFi makes Automated Investing a part of users’ overall financial experience. In addition to setting up a robo-investing account, users can also gain access to banking, lending, and other SoFi products, all in one place. This ease of use has led SoFi to grow in popularity among young investors in 🐎recent years.

Desktop

Users can access their SoFi✃ accounts online anywhere they have an internet connection. The online experience is relatively clear and seamless and allows users to access everything at once, including automated investments, bank accounts, loans, and other products.

Mobile 

SoFi has both iOS and Android apps that allow investors to control all of their SoFi accounts remotely. This one app to rule all accounts causes some extra clutter for investors just using SoFi Automated Investing, but it is probably appreciated by customers using SoFi for banking and investing. The Apple app has a higher rating of 4.8 compared to the Google Play store app rating of 4.0.

Customer Service

SoFi customer service is available via phone and live chat 12 hours per day, five days per week. Users can also get support by email, and online chat is available for both prospective clients and existing customers. Existing clients can also get support from SoꦡFi’s licensed financial advisors. All advisors hold Series 7 and 66 licenses, and nearly all are CFP professionals.

Security 

SoFi Automated Investing is operated through SoFi Wealth LLC, but it uses the SoFi Securities platform. SoFi Securities is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). This protects accounts up to $500,000 including $250,000 for cash. This is protection against losses related to the firm, not regular market losses. The SoFi p💙latform is SSL-encrypted and two-factor authentication is available. 

Education 

SoFi offers an array of educational articles and videos that help educate investors about a range of topics. There are tools and other resources t🥂o support goal planning throughout the larger SoFi website. There is also a comprehensive FAQ page on the company’s website 🌺for more pointed questions.

Commissions and Fees

SoFi’s revamped Automated Investing platform, launched on November 12th, 2024, charges a 0.25% annual fee. The advisory agreement with SoFi Automated Investing comes with a secondary agreement with SoFi Securities, which acts as your brokerage, while SoFi Wealth LLC is the Automated Investing advisor. This means that you may also encounter miscellaneous fees for certain actions, like an IRA closing fee of $20 and an automated customer account transfer (ACAT) fee of $75. 

In addition, there is no extra fee for talking to an advisor. This is a h💧uge benefit to those looking for more of a human touch to go along with digital investment management. 

There are the usual underlying fees on the ETFs in your portfolio. While these expenses vary based on the portfolio, the average operating expense ratio for non-qualified accounts is 0.04%; it’s 0.03% for qualified accounts. The app🃏roximate operating expense ratios for each SoFi Automated Investing portfolio are: 

• Conservative: 0.07% for non-qualified; 0.06% for qualified 
• Moderately conservative: 0.06% for non-qualified; 0.04% for qualified
• Moderate: 0.04% for non-qualified; 0.03% for qualified
• Moderately aggressive: 0.03% for non-qualified; 0.03% for qualified
• Aggressive: 0.02% for non-qualified; 0.02% for qualified

The Bottom Line

If you’re new to automated investing or want to consider a robo-advisor as a part of your overall finances, SoFi Automated Investing is a great way to get started. This platform offers a competitive investing option that lets you g🌳et started with as little as $50 and provides access to a broad range of other financial products ℱand services. There is also the option to speak with a human advisor - a premium feature that comes at no additional cost for Automated Investing clients.

If you are looking for a sophisticated robo-advisor with advanced customization, however, SoFi Automated Investing begins to show its limitations. SoFi portfolio customization options are limited and the platform lacks more advanced features that some competitors offer. Nonetheless, SoFi remains an easy, cost-effective way to get started investing based on your specific risk tolerance. This makes it a great fit for investors already within the SoFi ecosystem and a compelling choice for newer investors looking for a cheap and simple way to get going.

How Does SoFi Automa🐷ted Investing Help You Save Money on Taxes?

SoFi Automated Investing doesn't offer much in the way of tax savings. It will consider tax efficiency when analyzing assets in taxable accounts, which may mean adding tax-advantaged exposure to 澳洲幸运5开奖号码历史查询:municipal bonds rather than a different bond fund. SoFi Automated Investing does not offer any 澳洲幸运5开奖号码历史查询:tax-loss harvesting.

Wha🦋t Is the Difference Between Actꦦive and Automated Investing at SoFi?

SoFi Automated Investing is a robo-advisor where the system uses your responses to questions to 🐷suggest and algorithmically manage an investment portfolio for you. Exchange-traded funds (ETFs) are the main asset used by SoFi Automated Investing to create and maintain your portfolio. SoFi Active Investing is a self-directed brokerage account where you can choose your own stocks, bonds, and ETFs to make up a p🍰ortfolio that you manage on your own.

Does SoFi Automated Investing Have Any Fees?

SoFi Automated Investing comes with a 0.25% annual management fee.SoFi Active Investing account does not charge trading commissions on investments 🌟it offers. The primary cost to automated inve꧙stors is the expense ratio built into funds used within SoFi’s portfolios, which ranges from 0.02% to 0.07% per year.

How Much Do You Neꦗed to Start Investing With S🍰oFi?

One of SoFi’s primary aimღs is to make investing simple and accessible to all. The process of setting up and funding an account is relatively easy, and you can get started with as little as $50.

Is SoFi FDIC Insured?

Banking prod🔜ucts from SoFi are FDIC insured. This me♌ans SoFi cash accounts are insured up to $250,000 per depositor, per ownership category, in the event of a bank failure. Additionally, some investment accounts held at SoFi also have Securities Investor Protection Corporation (SIPC) insurance. It’s important to note that neither FDIC, nor SIPC insurance protects investors against market losses.

Is SoFi Automated Investing Safe? 

SoFi Automated Investing is generally considered safe to use, though the value of investor accounts can rise or fall based on market conditions. Automated Investing users invest through the same platform used by SoFi’s banking customers, meaning it is encrypted and up to bank st🏅andards in terms of security.

Who Is the CEO of SoFi?

The CEO of SoFi is Anthony Noto. Noto has been CEO of SoFi since 2018 and has an impressive background in technology and finance. Before joining SoFi, he worked as the chief operating officer of Twitter and as a managing director at Goldman Sachs.

How We Picked the Best Robo-Advisors

Providing readers with unbiased, comprehensive reviews of digital wealth management companies, more commonly known as robo-advisors, is a top priority of Investopedia. To collect data for our 2024 best robo-advisor 🦩awards and rankings, we sent a digital survey with 64 questions directly to each of the 21 companies weℱ included in our rubric. Our team of researchers verified the survey responses and collected any missing data points through online research and conversations with each company directly. The data collection process took place from Jan. 8 to Feb. 9, 2024.

We then developed a quantitative model that scored each company to rate its performance across nine major categories and 59 criteria to find the best robo-advisors. The score for each company’s overall star rating is a weighted average of the criteria:

• Goal Planning - 21.00%
• Portfolio Contents - 17.00%
• Portfolio Management - 17.00%
• Fees - 15.00%
• Account Services - 10.00%
• Account Setup - 5.00%
• Customer Service - 5.00%
  
• Security & Education - 5.00%
• User Experience - 5.00%

Many of the companies we review for 🍰our projects grant our team of expert writers and editors access to live accounts so they can perform hands-on testing. Robo-advisor companies allowed us to do this, as well.

Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top robo-advisors. Read more about 澳洲幸运5开奖号码历史查ꦍ询:how we research and review robo-advisors.

The above material and content should not be considered to be a recommendation. Investing in digital assets is highly speculative and volatile, and only suitable for investors who are able to bear the risk of potential loss and experience sharp drawdowns. Digital assets are not legal tender and are not backed by the U.S. government. Digital assets are not subject to FDIC insurance or SIPC protections.

INVESTMENTS ARE 👍NOT FDIC INSURED • ARE NOT BANK 🤡GUARANTEED • MAY LOSE VALUE

Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser. 0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.