SoFi Invest Review: Everything You Need to Know
Excellent Score
The Verdict
SoFi Invest is an all-in-one platform for active and automated investing. It offers commission-free stocks, ETFs, and crypto, plus access to financial planners.
- Commission-Free Trading
- Automated Robo-Advising
- Access to Certified Financial Planners
- Fractional Shares
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Pros
- Great for beginners and hands-off investors
- Free access to financial advisors
- Member benefits like loan discounts and career coaching
- User-friendly interface
Cons
- Limited research tools for advanced traders
- No tax-loss harvesting for automated accounts
- Crypto selection is limited
Detailed Review
SoFi (Social Finance) began as a student loan refinancing company but has evolved into a financial super-app. SoFi Invest sits at the core of this ecosystem, offering a simplified way to build wealth.
Active vs. Automated
SoFi Invest gives you two choices:
Active Investing: You pick the stocks and ETFs. Trades are commission-free, and you can buy "Stock Bits" (fractional shares) of companies like Amazon or Google for as little as $5.
Automated Investing: You set your goals and risk tolerance, and SoFi builds a diversified portfolio for you. Unlike many competitors, SoFi charges no management fee for this service.
The "Member" Advantage
What truly sets SoFi apart is the community aspect. Members get free access to Certified Financial Planners (CFPs) to discuss goals, budgeting, and strategy. They also host exclusive events and offer career counseling services.
Conclusion
If you want a simple, low-cost place to start investing, or if you want to consolidate your banking, borrowing, and investing in one app, SoFi is an excellent choice.
Is SoFi Invest Right For You?
Based on our extensive testing, we believe SoFi Invest offers excellent value for most users. The combination of Commission-Free Trading and Automated Robo-Advising makes it a standout choice in the Finance market.
Bottom Line
If you are looking for a reliable, feature-rich solution, SoFi Invest is highly recommended. Click the button below to see the latest offers available.