SoFi Invest is the investing arm of Social Finance, or SoFi, a digital personal finance company that offers online banking, student loan refinancing, personal loans, and now investing. The platform includes both active and managed investing options, making it a versatile choice for investors of all levels.
One of the standout features of SoFi Invest is the lack of account minimums and trading commissions. This means that even someone with just a few dollars to invest can get started on the platform without worrying about fees eating into their returns. Additionally, SoFi Invest offers a high-quality mobile app experience that makes investing on-the-go simple and intuitive.
SoFi Active Investing is the self-directed investing option on the platform. This allows investors to choose their own stocks and exchange-traded funds (ETFs) to build a custom portfolio. SoFi Active Investing also includes essential perks like no account minimums, no trading commissions, and access to a wide range of investment options.
For those who prefer a more hands-off approach, SoFi Automated Investing is a managed portfolio option. Investors simply answer a few questions about their investment goals and risk tolerance, and SoFi builds a custom portfolio of ETFs that matches their needs. SoFi Automated Investing comes with a 0.25% annual management fee, which is on the lower end of the industry standard.
In addition to traditional investment options, SoFi Invest also offers the ability to invest in cryptocurrency like Bitcoin and Ethereum. This is a unique offering among investment apps and may be appealing to those looking to diversify their portfolio.
SoFi Invest also prioritizes education for its users. The platform offers a variety of resources and tools to help beginners learn about investing and make informed decisions. This includes articles on investing basics, webinars on specific topics, and a financial planning tool that helps investors set and work towards their goals.
Overall, SoFi Invest is a top choice for beginner investors looking for a low-cost, high-quality platform. The lack of account minimums and trading commissions make it accessible to a wide range of users, while the range of investment options and education resources make it a versatile choice for investors of all levels.
Ticker: SOFI
