SoFi Robo Advisor – 5 Reasons Why It Might Be Right For You

SoFi (Social Finance) is an excellent platform for beginners. There are low to no fees, pretty good returns and a lot of perks granted to its users. SoFi robo-investing is one of many platforms offering similar services, so why should you choose this one? How does it compare to the big names like WealthSimple, Betterment and M1 Finance, to name a few? Let’s find out.

What is SoFi Robo-Advisor?

SoFi is an investment platform suitable for hands-offs and beginners or more inexperienced investors looking for a cheap solution. It gives access to a good portfolio mix, career advisors and real-time financial advisors to point you in the right direction. The low fees are also optimal for people who do not have many assets.

SoFi robo-investing is fairly new on the scene and does not have a long track record for users to measure performance. Why choose this newcomer with competitors like Betterment and M1 Finance?

5 reasons why SoFi Robo-Investing is for you


Access to financial advisors

SoFi robo-advisor can get you in touch with certified financial planners (CFPs). All clients can enjoy unlimited access to human advisors – free of charge. Yes, there is no extra charge, unlike its competitors.

You can rely on impartial statements and recommendations from the Common Fisheries Policy because they are non-commissioned and do not charge a fee for the actions they propose.

Users can contact the financial advisors either through a phone call or video chat at different times of the day. Availability instills confidence in new users and investors.

Low cost

The low fees for SoFi robo investment is one of the primary reasons why it is popular. There are 0 minimum or account management fees. Customers can start investing with as little as $ 5! Some funds may still bear their own standard fees, but SoFi’s proprietary ETFs do not.

Compared to other platforms, the cost you have to pay on SoFi is much lower. Various fees associated with using the platform will not exceed $ 75. These costs include outbound bank transfers (ACH is free), IRA closing fees and paper withdrawals.

Wide investment portfolio choices

Customers have 10 standard portfolio options to choose from, which differ in risk levels and investment targets. The available assets are:

  • Fixed-rate ETFs
  • Standard ETFs
  • Non-proprietary ETFs

Within these ETFs are US equities, government bonds, high-yield bonds and international equities.

Automatic rebalancing

A disadvantage of the SoFi robo advisor is that it does not possess tax losses, which is a feature that is very useful and many of its competitors have. However, it has automatic rebalancing.

The automatic rebalancing function in SoFi adjusts your portfolio to ensure that it is no more than a 5% discount on the target allocation.

The risk and return on your investment will always be rebalanced to achieve your goals.

Highly rated desktop and mobile interfaces

Another feature that users fable about is the interface and ease of use. iOS and Android apps are very highly rated and easy to navigate, just like the desktop site. There is not much of a learning curve and you will not find yourself spending much time trying to figure out how to use the features.

Everything is clearly marked in the headline, and if you have any questions, the FAQ section has all the answers. Sometimes mobile apps do not provide access to all the features offered by the desktop site, but in the case of SoFi robo investment, you can pretty much do everything on the app.

If you have any questions, customer service is on hand to assist with comprehensive telephone support. There is also a chat box that can give you some assistance in your spare time.

SoFi Robo-Advisor pros and cons

Of course, SoFi offers more than just the 5 best reasons why it is a good choice. Some of the other considerations before you decide if it is the right choice for your portfolio include:


  • Access to CFPs for all customers at no extra cost
  • No administration fees and account minimum
  • Only $ 5 is needed to start investing
  • 10 portfolio options
  • Low investment cost ratios
  • ETFs from 13 asset classes
  • Automatic rebalancing
  • Available customer support options
  • User-friendly interface


  • No tax loss harvest
  • Very few socially responsible opportunities
  • A fairly new platform

As you can see, the pros far outweigh the cons, but your decision can not be summed up in a simple list of pros and cons. For example, if your main focus is tax-loss harvest, then no matter how many benefits SoFi provides, it will not be for you because it does not have that feature.

Finally takeaway

The SoFi robo advisor is an excellent platform for people looking for very low cost, useful knowledge and guidance from career advisors and financial advisors at no extra cost, and a convenient investment experience on user-friendly platforms. Click here to learn more about what the SoFi robo advisor can do for you.

SoFi comparisons:

  • SoFi vs Robinhood
  • Improvement vs SoFi
  • M1 Finance vs SoFi
  • SoFi vs Vanguard

Related investment product reviews:

  • SoFi Invest Review
  • Benzinga Pro review
  • Mindful Trader Review
  • Variegated Fool review
  • Improvement review
  • M1 Financial Review

The post SoFi Robo Advisor – 5 Reasons Why It May Be Right For You, first appeared on Modest Money.

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