SoFi Automated Investing 2021 Review


In addition to standard brokerage accounts, SoFi Automated Investing offers IRAs (traditional and Roth), SEP-IRAs, and lets members roll over existing retirement funds into a SoFi account. Members can access accounts through SoFi’s online portal or through its user-friendly mobile app.

SoFi Automated Investing customers can choose among 10 investment portfolios offering a variety of risk levels and investment goals. If you aren’t sure which one to choose, don’t worry — you can answer questions about your financial goals, current assets, and income, and SoFi will do the rest.

As with most robo-advisors, the portfolios are composed of exchange-traded funds (ETFs) that put your money into a mix of stocks, bonds, and other asset classes. Unlike many competitors, SoFi uses some proprietary ETFs in its Automated Investing portfolios, another way it keeps expenses low.

Services offered

SoFi Automated Investing offers automatic rebalancing, which means it automatically adjusts your investments on a regular basis to maintain your desired risk level and investment goals. For example, if your portfolio contains a 50% stock and 50% bond mix, and the stock market rises dramatically, the value in your portfolio might be tipped toward 60% stock and 40% bond. SoFi automatically adjusts your investments by selling some stocks and buying some bonds to regain the 50/50 mix.

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SoFi investment customers also have access to a high-interest savings account, which pays an APY on cash balances, which varies over time and rivals some of the best online savings accounts.

SoFi is well-known for its outside-the-box approach to financial services. Automated Investing clients who invest at least $20 per month get access to some unique and valuable perks, such as free career coaching, in-person member events, and discounts on SoFi lending products.

Pricing and fees

SoFi Automated Investing is among the cheapest robo-advisor platforms. You’ll pay no account management fees and minimal investment expenses, so you keep more of your returns than you would with many of SoFi’s competitors.

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