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  SoFi Invest

SoFi Invest

in Investment Advisors from SoFi

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SoFi Invest

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Highlights
Minimum Initial Investment $100
Management Fee 0% - 0.25%

SoFi Invest Review

SoFi investing is founded in 2011 and based in San Francisco, CA.

SoFi investing Pros & Cons
The Good The Bad
  • Broad selection of account types.
  • Competitive investment expense ratios.
  • Does not offer low-cost ETFs.
  • Does not give access to human finance advisors.
  • Tax-loss harvesting not available.
  • Limited investment options.
SoFi investing FAQ

What fees does SoFi investing charge?

SoFi investing uses a fee-only model.

This means SoFi investing gets paid a flat fee regardless of what financial products or services you use. It also means they have a fiduciary responsibility to their clients. Instead of making money on trades commissions or selling products, they recommend an asset allocation and get paid a flat-fee or a percentage of the assets under administration. That requires that they act in their client’s financial best interest at all times.

SoFi Invest Fees
Description
Monthly Fee $0
Annual Fee $0
Account Termination Fee $0
Account Transfer Fee $0
Fee Based?
Management Fee 0% - 0.25%

What management fees does SoFi investing charge?

SoFi investing charges a fixed monthly fee of $0 to $0 .

Many financial advisors charge based on how much money they oversee by using a fee-structure called “assets under management,” or AUM. For instance, a 0.40% fee translates to $4 per year for every $1,000 an investment advisor manages. Management fees, also known as maintenance fees, cover the operating costs of investment advisors and are typically deducted from your account every month or quarter. The management fee does not cover the underlying expense ratios of the investment vehicles purchased by investment advisors.

What are the investment expense ratios of SoFi investing?

Hiring an investment advisor with competitive investment fees is one of the most important steps to maximizing your portfolio's performance. Investment expense ratios can vary drastically depending on the types of accounts and assets involved. A survey by the ICI puts the average expense ratio for actively managed funds at 0.76% and indexed funds at 0.08%. The investment expense ratios of an investment advisor will vary depending on the type of assets they invest in and whether they attach additional charges to fund fees.

SoFi investing does not charge fees based on an investment expense ratio.

What type of investment accounts and asset classes does SoFi investing support?

SoFi offers the following types of assets and account types.

Accounts Supported
Supported Options Unsupported Options
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SEP IRA
  • Trusts
  • 529 College Savings Plans
  • Employer Sponsored Plans
  • Custodial Accounts

SoFi does not offer any of the investment vehicles that we track.

What is the minimum amount you have to invest to open an account with SoFi investing?

The minimum amount to open an account with SoFi investing is 100.
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Contact

Hours of Operation

  • Sunday 4:00am - 5:00pm
  • Monday 4:00am - 9:00pm
  • Tuesday 4:00am - 9:00pm
  • Wednesday 4:00am - 9:00pm
  • Thursday 4:00am - 9:00pm
  • Friday 4:00am - 5:00pm
  • Saturday 4:00am - 5:00pm

Other Services by SoFi

Feature Breakdown

Monthly Fee $0
Annual Fee $0
Account Termination Fee $0
Account Transfer Fee $0
Management Fee 0% - 0.25%
Fee Based
Minimum Initial Investment $100
Accounts Supported
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Rollover IRA
  • Roth IRA
  • SEP IRA
  • Traditional IRA

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