SoFi Blog

It’s no secret that the advent of Instagram has changed the way we eat and the way chefs prepare food. At this point, we’re all in it for that double-tap worthy brunch shot of our elegantly-plated eggs benedict accompanied by home fries and hashtags.

Social media does more than just make us feel like we missed out on a great meal, though. Through platforms like Pinterest and Instagram, we have a clear view into friends’ and influencers’ homes. It made us wonder: does “pinning” impact planning when it comes to home improvement projects? We surveyed 1,500 homeowners to find out.

New Directors Add More Depth to SoFi’s Board; Board adviser Anshu Jain to leave role

SAN FRANCISCO, Calif. – March 15, 2017 – SoFi, a modern finance company taking an unprecedented approach to lending, wealth management, and insurance, announced today the election of Mike Bingle, Steven Freiberg, and Robert L. Joss AC to its Board of Directors.

“We’re extremely fortunate to have Mike, Steve, and Bob join the Board,” said Mike Cagney, co-founder, chairman, and CEO of SoFi. “Each of them brings deep experience in financial services that will be extremely useful as we embark on SoFi’s expansion into new product areas and new geographies like Australia and Canada.”

Bingle is a Managing Partner and Managing Director at Silver Lake. He currently serves on the Board of Directors of Ancestry.com, Fanatics, Gartner (NYSE: IT), and SolarWinds. Bingle has  been a private equity investor for over 20 years, and he has invested in numerous financial technology companies, including having served as a Director of: TD Ameritrade (NYSE: AMTD), Datek Online Holdings, Inc., Interactive Data Corporation, IPC Systems, Instinet, Mercury Payment Systems, and Virtu Financial (NASDAQ: VIRT). Prior to joining Silver Lake, Bingle was a principal at Apollo Management; he also worked in the Investment Banking Division of Goldman, Sachs & Co. Bingle holds a BSE in Biomedical Engineering from Duke University.

“SoFi’s platform — equal parts technology, community, and exceptional customer experience — is rapidly transforming personal finance,” Mike Bingle said. “I am thrilled to partner with Mike Cagney and his talented team and Board of Directors, as we help SoFi achieve its long-term vision of offering a broad suite of financial services around the world.”

Freiberg is also a long term veteran of the financial services sector , having held multiple positions at Citigroup (NYSE:C) over a 30 year period including serving  as the Co-Chairman and CEO of Citigroup’s Global Consumer Group, and most recently as the CEO of E*TRADE Financial Corporation (NASDAQ:ETFC) where he led the company back to profitability in the aftermath of the 2008 financial crisis. He is currently a Board member of Fair Square Financial, MasterCard (NYSE:MA), OANDA, Purchasing Power, and Regional Management (NYSE:RM), and a senior advisor to several companies including The Boston Consulting Group and Verisk Analytics (NASDAQ:VRSK). Freiberg holds a BS in Finance as well as an MBA in Finance from Hofstra University.

“I’m honored to join SoFi’s Board at this time, and to contribute my industry knowledge and experience in support of the company’s objective of reshaping personal finance,” said Freiberg.

Joss, whose career in finance and economic policy spans five decades, is currently the Philip H. Knight Professor and Dean, Emeritus of the Stanford Graduate School of Business, having served as the school’s Dean from 1999 through 2009. Prior to Stanford, he was chief executive officer of Westpac Banking Corporation (NYSE:WBK), one of Australia’s largest banks. Before Westpac, Joss spent 22 years with Wells Fargo, holding a variety of positions including Vice Chairman for his last seven years. He is currently a Board member of Makena Capital and C.M. Capital, and a past board member of Agilent Technologies, Bechtel Group, Citigroup, SRI, and Wells Fargo. Joss holds a BA in Economics from the University of Washington, and an MBA and Ph.D. from Stanford University.

“This is an exciting time in SoFi’s young history, and I look forward to aiding the company’s healthy development and growth any way I can,” said Joss.

Additionally, SoFi announced Board adviser Anshu Jain has stepped down from his role at his request as he pursues other projects. Jain, who joined as an adviser in February of 2016, recently joined Cantor Fitzgerald as President.

“Anshu has been a great adviser and friend to me and the rest of the Board. We have been very pleased to have his help and insight on a range issues, most recently on our successful fundraising round. He leaves SoFi in a great place, and we wish him all the best in his new role at Cantor Fitzgerald,” said Cagney.

Jain added, “I have greatly enjoyed my time working with Mike and the team at SoFi and have been glad to make a contribution the company’s growth and recent successful capital raise. SoFi continues to be a dynamic force in an evolving sector, and I look forward to watching the company go from strength to strength.”

About SoFi

SoFi is a new kind of finance company taking a radical approach to lending, wealth management, and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

There’s no doubt that your squad makes your life better. Your friends pick you up when you’re down, celebrate your milestone moments, and hang out with you just because you rock in between. But beyond providing awesome support—and lots of laughs—several studies reveal that your friends can also influence your financial achievements, career performance and opportunities, and general life success.

Here are five ways, according to science, that your friends can help you get more out of work and life:

After graduating from law school, every aspiring lawyer has a vision of what his or her ideal law career will look like. One thing most new attorneys will attest to, however, is that their substantial student loan debt will probably factor into their career decisions for years to come. Whether pursuing the coveted partnership in a law firm, choosing a slower pace to leave room for work-life balance, opting to practice law that helps champion causes close to the heart, or working for a private client, law school loans loom large.

Here’s a closer look at how four motivated young lawyers are navigating different career paths and discovering new passions, while trying to close the case on their student loan debt for good.

Joe Mihalic is a changed man. In 2011, he led the typical the Harvard-MBA lifestyle, with a lucrative job at a big tech company, a house in the suburbs, two cars and a motorcycle, and frequent travel—but he felt trapped. “I wasn’t working at a company I loved or in a job I loved. I wasn’t living a life I loved,” Joe says. So he changed his life drastically, becoming a minimalist. And that decision led him to pay off $90,000 in student loan debt in just seven months.

Joe, who lives in Austin, Texas, chronicled his journey to payoff success in his blog No More Harvard Debt. His posts resonated with many young grads, and his blog went viral in 2012. Now debt-free and an operations manager at a company he loves, Joe says he’s found inner peace. But he hasn’t let go of his frugal lifestyle— his work shoes attest to that. While paying down his loans, he wore the same shoes, even as holes appeared in them. Today, he won’t buy a new pair of shoes until the soles wear out.

Joe didn’t take every possible road to pay off his student loans—for example, he didn’t refinance, or take advantage of a student loan forgiveness program. But his “all in” approach offers many takeaways for MBA grads facing mortgage-sized loan debt.