Sofi Automated Investing

If you are looking to minimize expenses while still receiving some basic Robo-advisor services, then SoFi Automated Investing is an excellent solution. SoFi Automated Investing has the lowest fees of any Robo-advisor service in our evaluation. There is no yearly consulting fee; your account is invested in ETFs with relatively low-cost ratios; and you have access to real-world specialists if you have questions about your financial status. With a minimum account balance of only $1, nothing is stopping you.

The remainder of SoFi Automated Investing operates in a manner consistent with that of a Robo-advisor. You input your private information and financial objectives, and the platform will create a balanced portfolio of about ten exchange-traded funds (ETFs) that correspond with your financial objectives and risk tolerance.

There is one major disadvantage to SoFi Automated Investing that you should be mindful of: the sort of ETFs it includes in your portfolio. The platform features a large number of SoFi's own ETFs, similar to how Vanguard solely employs its own funds. However, in comparison to Vanguard, SoFi's funds are modest in terms of assets - relatively new and experimental - and, in some instances, even expensive in terms of cost ratios. As a result, they may be riskier investments for long-term investors.

Ratings: 4.4 stars (from 260 reviews)

Price: No annual fee

Website: https://partners.sofi.com/gen-invest-robo/