SoFi Investing Review

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Active investing through SoFi® is the 3rd option for your investing goals, through which you can actively trade on a do-it-yourself basis and learn the market your way. With active investing, you can be much more connected with other SoFi investors while you learn together from news updates and educational tools, all on the SoFi mobile app.

Start investing fractional shares of stocks and ETFs from your favorite companies with as little as $5 and enjoy the perk of $0 fees on every trade you make. Plus:

• Invest in stocks and ETFs, all in one app.
• Get up to $1,000 when you fund a new brokerage account (See terms).
• No commissions for stocks and ETFs.
• Access to SoFi Financial Planners.
• Purchase fractional shares of your favorite companies for as little as $5.
• Trade on margin to increase your buying power.
• Pre-built investment collections, so you can easily diversify your investments
• Disclosure: Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.

User-Friendly Options Trading With SoFi

User-friendly options trading with SoFi may allow you to increase returns or limit risk. The platform includes:

• User-friendly design
• Educational resources
• No contract fees
• One-click access to options data

Plus, SoFi’s options trading platform helps you understand what to do when a stock’s value is rising or falling and you can even check out their FAQs to learn more about options trading before investing your hard-earned money.

Automated investing through SoFi is known as “hands-off investing that’s always on.” SoFi can help you set goals whether you’re saving for retirement, saving for a down payment or simply investing for later.

You can start robo investing through SoFi with as little as $1 and make one-time or recurring payments depending on what works best for your goals. Investing through SoFi also gives you access to member benefits and discounts on other SoFi products. Plus, you get:

• Auto rebalancing: No management fees with automatic rebalancing, Automatically adjusting and rebalancing your portfolio.
• Investment planning: Whether you’re saving for retirement, a down payment or just investing for later, SoFi helps you make a plan to tackle multiple goals.
• Diversification: Ensuring that your money is allocated across different kinds of financial instruments.
• SoFi financial planners: Financial planners are available to assist you.

Here’s SoFi automated investing at a glance:

Customer service is elemental for every online service or company. Customer service at SoFi is accessible through the “About” and “Contact us” tabs made available on every page of its website. The customer service page is very organized and easy to read, including phone numbers for general support, home loans support, investing support and money support.

Available office hours are included for each phone number, as well as payment addresses for check writing on loans and company contributions. Various emails included are general customer service, press, investor relations, partnerships, SoFi Money, SoFi Invest and home loans. Locations for in-person help are in San Francisco, Healdsburg and New York City. You can also tweet SoFi at its Twitter handle @SoFiSupport for short questions and concerns regarding all services. 

SoFi offers a user-friendly experience across its website, mobile app and desktop platforms. The interface is intuitively designed, allowing you to navigate through various investment options, account management features and educational resources with relative ease.

SoFi’s streamlined approach to investing, coupled with its clean and modern design, makes it particularly appealing to those new to investing. The platform offers a range of features tailored to newcomers, including simplified investment options and clear explanations of financial concepts.

While SoFi’s platform may not offer the most advanced tools and in-depth analysis that experienced traders might require, its focus on accessibility and user-friendliness makes it an ideal starting point for those taking their first steps into investing.

SoFi vs. Competitors

SoFi Automated Investing is a competitive option for those looking to dip their toes into investing or who already use other SoFi services. The combination of a low minimum investment, access to human advisors and user-friendly platform make it an attractive choice for many investors. However, for those seeking more advanced features or lower fees, exploring alternative robo-advisors may be worthwhile.

Best For

High Net Worth Individuals

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get started securely through Empower’s website

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Best For

High Net Worth Individuals

N/A

1 Minute Review

Empower is a digital financial advisory service that offers tools and services beyond the norm. The crux of Empower’s power lies in the intersection of smart financial strategy and state-of-the-art financial technology. 

Its high-powered investment management technology makes it an ideal virtual financial advisor and portfolio manager for high-net-worth individuals. But its financial tools and services can benefit anyone. 

Best For

• High-net-worth individuals looking for a comprehensive digital financial manager
• Retirement planning
• Self-starters who can use the Personal Capital Financial Tools to track finances and set long-term financial goals

Pros

• Handle your portfolio, financial planning and spending accounts with cutting edge digital financial management technology
• Panoramic view of your finances on display 24/7 using precise analytics and a dashboard that displays all your accounts together
• Executive-level financial planning and investment management

Cons

• Relatively high minimum balance for investment management services
• Fully-comprehensive financial management, including a dedicated relationship with a financial planner
• Portfolio customization and estate, legacy and tax services only available at higher tiers that require $200,000 to $1 million minimum in investments

Best For

Customizable Auto Investing

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get started securely through M1 Finance’s website

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Disclosure: Brokerage products and services are offered by M1 Finance, LLC, Member FINRA/SIPC, and a wholly-owned subsidiary of M1 Holdings, Inc. Your free trial (a $30 value) begins the date you enroll in the M1 Plus subscription, and ends 3 months after (“Free Trial”). Upon the expiry of the Free Trial, your account is automatically billed a monthly subscription fee of $10 unless you elect annual billing of $95 or cancel your subscription under your Membership details in the M1 Platform

Best For

Customizable Auto Investing

N/A

1 Minute Review

M1 Finance is a unique investing platform that allows investors to allocate their funds through a strategy called “pie investing.” When you open an account with M1, you can choose from 1 of 80 expert portfolio allocations, which the platform calls “pies.” Each pie is made up of a unique mix of stocks and ETFs and each represents a “slice” of your overall account.

Pies distinguish themselves by their asset allocation and investment choices. For example, investors who want to hold onto their investments until they retire might choose a pie with a focus on slow, steady growth, while investors who value corporate responsibility may want to choose M1’s socially responsible investment portfolio. 

You can also create your own pie by selecting individual stocks and ETFs. Every time you make a deposit into your M1 account, the broker will automatically divide your funds between your investments.

M1 offers only basic educational tools and its customer support leaves much to be desired. However, if you’re looking for a way to put your investments on autopilot, M1 Finance might be the right choice for you. 

Best For

• Don’t want to take an active role in portfolio management
• Need a large amount of hand-holding when it comes to selecting investments
• Want the option to invest in a socially responsible portfolio

Pros

• Pie investing system offers a unique visual component to investing
• Streamlined mobile app offers full functionality of the desktop platform, plus access to M1’s banking components
• Socially responsible portfolio option is perfect for investors who want to invest only in companies that offer positive business practices

Cons

• No access to mutual funds, futures, forex or options investing
• Limited charting tools and indicators
• Poor customer service selection
• Basic educational offerings cater only to very new investors

Best For

New Investors

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Get started securely through Wealthsimple’s website

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Best For

New Investors

N/A

1 Minute Review

Wealthsimple is a hybrid robo-advisor with a set-it-and-forget-it approach to investing. Automate your investments, authorize Wealthsimple to round up your credit card purchases to the nearest dollar and watch your long-term savings build up with 1 of Wealthsimple’s comprehensive prebuilt portfolios. Socially responsible and halal investment portfolios are available as well if you prefer to invest a specific way.

Wealthsimple’s investing choices are limited and the platform is geared toward completely new investors who could be overwhelmed by too many technical options. Its education and customer service options need a bit of work, but we recommend Wealthsimple if you’re looking for a simple way to start investing from your desktop or mobile device.

Best For

• New investors
• Those concerned with the social implications of portfolio choices
• Anyone who wants to automate investing

Pros

• Simple questionnaire to find your perfect asset mix
• Socially responsible and halal portfolios
• Higher-level accounts come with perks like airport lounge access and human financial advisor reviews

Cons

• Lack of choice could frustrate more experienced investors
• Limited analysis tools and no charting functions available
• Human advising isn’t free with all account types

After our assessment and analysis, SoFi’s investing services are high-quality and hard to beat. With a user-friendly, highly-rated mobile app available to iPhone and Android users featuring its affordable investing services, SoFi is an online financial platform to remember. 

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Frequently Asked Questions

The post SoFi Investing Review by Benzinga Sponsored appeared first on Benzinga. Visit Benzinga to get more great content like this.