SoFi (NASDAQ: SOFI), a digital financial services that helps members borrow, save, spend, invest and protect their money, announced a new robo-advisor platform, expanding on the company’s automated investment offering.
SoFi is one of the automated investment platforms to provide access to alternative asset classes alongside “traditional and sustainability-focused funds.”
These offerings, built in partnership BlackRock Inc., expose investors without financial resources, or a wealth manager, to new strategies and funds, some of which would “require a seven-figure investment minimum.”
The robo offering comes on the heels of SoFi’s 2024 “launch of alternative investment funds.”
With more than 8 in 10 (81%1) of people expressing interest in alternative investments, SoFi is addressing a broader market “need with a low-fee, personalized approach to investment strategies, all available on a platform that’s both intuitive and educational.”
SoFi’s Robo Investing product offers the benefits of always-on automation for 0.25% annual advisor fee and allows members to “adjust taxable and non-taxable portfolios to meet their unique needs.”
Members can select from portfolio themes: “Classic,” which offers a balanced, low-cost mix of stock and bonds; “Classic with Alternatives,” which is one of the first to offer access to alternative asset classes (e.g., real estate and multi-strategy funds); and “Sustainable,” which offers a “well-diversified mix of stocks and bond funds with favorable environmental, social, and governance practices.”
As covered, SoFi is a digital financial services on a mission to help people achieve “financial independence.”
The company’s products help members “borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.”
SoFi innovates across various business segments including the following: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack.
SoFi Bank, N.A., an affiliate of SoFi, is a “nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve.”
