SoFi Automated Investing provides automated, diversified portfolio management for individuals seeking a simple, low-cost way to invest.
Portfolios are personalized using exchange-traded funds (ETFs) aligned with your goals and risk tolerance, and are managed with features such as automatic rebalancing and dividend reinvestment.
SoFi Automated Investing charges a 0.25% annual management fee, plus the underlying expense ratios of the ETFs in your portfolio. Investors also gain access to financial planning sessions and digital tools that support budgeting, retirement planning, and long-term goal tracking.
What are the pros and cons of SoFi Automated Investing?
SoFi Automated Investing provides investors with a straightforward way to build and manage portfolios at a low cost. It includes a competitive annual advisory fee, automated rebalancing, and access to certified financial planners (CFPs).
On the other hand, the platform has fewer advanced features than some rivals, such as tax-loss harvesting and environmental, social and governance (ESG) portfolio options.
The pros of SoFi Automated Investing
- Low advisory fee: It charges a 0.25% annual management fee, which is competitive in the robo-advisory market.
- Access to financial planners: Regular members get a complimentary 30-minute session with a CFP, while SoFi Plus members get unlimited access.
- Automatic rebalancing and dividend reinvestment: This keeps portfolios aligned with your risk profile and goals.
- Low account minimum: Start investing with $50, so it’s a low barrier to entry.
- User-friendly platform: SoFi Automated Investing has a simple and intuitive mobile app.
- Goal-based planning tools: Track multiple financial goals and monitor progress.
The cons of SoFi Automated Investing
- No tax-loss harvesting: This is a key feature offered by many competitors.
- Limited portfolio customization: Investors cannot select individual ETFs or exclude certain asset classes.
- No ESG or socially responsible investing (SRI) portfolios: This may be an issue for those who want to invest in companies that are socially responsible or environmentally friendly.
- Smaller ETF pool: Portfolios are built from a narrower range of funds compared to some alternatives.
SoFi Automated Investing fees: How much does it cost?
SoFi Automated Investing charges a 0.25% annual management fee, which is the same as competitors such as Betterment and Wealthfront, and slightly higher than Vanguard Digital Advisor (approximately 0.15%).
Investors also pay the underlying expense ratios of the ETFs used in their portfolios. SoFi is competitively priced, especially for those seeking a straightforward, automated investing service with access to financial planners.
Here is a fee breakdown for SoFi Automated Investing:
- Advisory/management fees: 0.25% annually, deducted from your account value.
- Account minimum: $50 initial deposit required to begin investing.
- ETF expense ratios: These typically range from 0.05% to 0.51%, depending on the portfolio.
- Other costs: There are no trading commissions, rebalancing fees, or account maintenance charges.
What is SoFi Automated Investing’s minimum account size?
The minimum account size to start using SoFi Automated Investing is $50. Once you’ve funded your account with this amount, you can begin investing.
- Account minimum: A $50 initial deposit is required to set up your portfolio.
- No funding lock: After your first deposit, there’s no requirement to have a specific minimum balance.
- Advisor access: All SoFi members receive a complimentary 30-minute session with a CFP, while SoFi Plus members get unlimited advisor access (free with direct deposits or available for $10/month).
This structure makes SoFi Automated Investing highly accessible, allowing beginners and cost-conscious investors to start small and also have the option to receive expert financial advice.
Who is SoFi Automated Investing best for?
SoFi Automated Investing is best suited for investors who want a simple, affordable way to manage their portfolios with minimal effort.
It works well for beginners and cost-conscious individuals who prefer automated management and the ability to access certified financial planners without needing a large account balance.
To summarise, SoFi Automated Investing is best suited for the following types of investors:
- New investors: SoFi Automated Investing is ideal for beginners as it requires only a $50 minimum deposit, making it easy to start investing without a large upfront commitment.
- Hands-off investors: It is a good choice for those who prefer automation, as features such as rebalancing, dividend reinvestment, and goal tracking support a ‘set it and forget it’ approach.Advice seekers: The platform benefits investors who want professional support, offering a complimentary CFP session for all members and unlimited access for SoFi Plus members.
- Goal-focused savers: It suits individuals who want to track progress toward specific goals, such as retirement, buying a home, or building an emergency fund.
- Cost-conscious users: SoFi Automated Investing appeals to investors who want affordability, as the 0.25% annual management fee provides low-cost access to professional portfolio management.
Is SoFi Automated Investing secure?
Yes, SoFi Automated Investing is secure, with protections in place to meet regulatory and technical requirements.
1. Regulatory protection
- Brokerage services are offered through SoFi Securities LLC, a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).
- SIPC coverage protects accounts up to $500,000, including $250,000 in cash. This safeguards your assets in case the brokerage fails, but does not protect against market losses.
- SoFi is also registered with the Securities and Exchange Commission (SEC), ensuring compliance with US financial regulations.
2. Digital security measures
- SoFi employs bank-grade 256-bit encryption to protect all data transmissions.
- Multi-factor authentication (MFA) adds an extra layer of protection.
- User accounts are monitored continuously for suspicious activity and potential breaches.
- Mobile and web applications are routinely updated to meet cybersecurity best practices.
SoFi’s platform is backed by regulatory oversight and strong digital security, making it a reliable option for investing. However, like all investment services, users are exposed to market risks.
SoFi Automated Investing: What do real customers say?
Feedback about SoFi Automated Investing is generally positive.
Many users appreciate its ease of use and accessibility, but there are some concerns, particularly about fees and investment performance compared to market benchmarks.
On Reddit, some investors note that the platform is straightforward and beginner-friendly, making it easy to get started without much prior knowledge.
Others have shared frustration with portfolio performance over the past few years, suggesting they might have done better with simple index funds.
A recurring theme in Reddit discussions is the recent introduction of the 0.25% advisory fee, which some users feel reduces its appeal compared to when it was free.
SoFi Automated Investing: Customer service
Customer support for SoFi Automated Investing is stronger compared to other robo-advisors, giving investors multiple ways to get assistance and guidance.
This is particularly valuable for hands-off investors who want the convenience of automation but still need access to human support when questions arise.
How can I get in touch?
- Phone support: Representatives are available at 855-525-7634 (Monday–Thursday: 5am to 7pm PT; Friday–Sunday: 5am to 5pm PT).
- Live chat: Support can be accessed directly via the SoFi site or mobile app.
- Email support: Inquiries can be submitted via the online contact form or email.
- In-app help: The app provides FAQs and onboarding guides for users.
Access to financial planners
SoFi Automated Investing clients have access to CFPs. All members receive one complimentary 30-minute consultation, and SoFi Plus members have unlimited sessions.
Meetings can be made by phone or video call, covering topics such as retirement, budgeting, and investing strategies. While these sessions are not full-scale financial plans, they provide valuable entry-level guidance.
Educational resources
Investors also benefit from SoFi’s educational tools, including articles, webinars, and guides that explain core investing concepts.
These are accessible through the SoFi Learn platform and are useful for new investors looking to build financial literacy alongside their portfolio.
SoFi Automated Investing: Mobile app
SoFi’s mobile app supports its financial services, including Automated Investing. Users can track portfolio performance, make deposits, schedule meetings with financial planners, and view investment goals. The interface is clean and user-friendly.
The app is highly rated by users, with a 4.8/5 on the Apple App store and 4.3/5 on Google Play.
Is SoFi Automated Investing worth it?
SoFi Automated Investing is worth considering for beginners and budget-conscious investors who want an easy way to start building wealth.
With a $50 minimum deposit, a competitive 0.25% annual management fee, and access to CFPs, it delivers solid value for those seeking simplicity and affordability.
However, the absence of features like tax-loss harvesting, ESG portfolios, and extensive customization, means it may not satisfy more advanced investors.
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