U.S. stocks are strong; developed world stocks are rallying, but still uncertain; and despite some investors’ fears, emerging markets are still appealing. Here’s what’s been happening in the market over the past few weeks.

Wealth management service gives people exceptional access to low-cost, professional advice and planning

San Francisco, Calif. – May 16, 2017 – Today, SoFi announced the general availability of SoFi Invest, the first low-cost online invest platform to combine an easy-to-use online and mobile interface with unlimited access to live, licensed financial advisors, giving people the guidance they need to understand, define, and then work toward achieving their investing goals.

Features of SoFi Invest include:

• Smart Portfolios: SoFi Invest helps people invest easily and intelligently by automatically building and rebalancing low cost, tax-efficient portfolios to generate long-term returns, while minimizing risk for individual and retirement accounts such as traditional deductible IRA accounts, Simplified Employee Pensions, and Roth IRAs.
• Live Advice: SoFi is the only wealth management offering at this low price point to offer unlimited access to non-commissioned, licensed financial advisors, who are available via phone or chat.
• Low Fees: Management fees are waived completely for SoFi loan borrowers over the life of their loan. For everyone else, management fees are just 0.25%, and are waived for the first $10,000 invested.
• Low Minimums: A $500 initial investment or recurring monthly deposit of $100 gets investors started in SoFi’s goal-oriented portfolios of low-cost exchange-traded funds (ETFs).
• Member Benefits: SoFi Invest comes with access to SoFi’s suite of member benefits, like community events, career coaching, and discounts on other SoFi products.

SoFi Invest users can access their accounts via the web, as well as the SoFi Invest app, available now for both Android and iOS.

“People love the low fees and automation of robo-advisors, but they struggle with not having an actual human being to talk to when facing big financial questions. We’ve built something that perfectly balances those interests,” said John Gardner, general manager of SoFi Invest. “For those who haven’t started investing, like younger professionals who make up a large part of the SoFi member base, that guidance from a live advisor can help give them the confidence they need to start planning for a lifetime of financial success.”

According to a recent Bankrate survey, less than a third of millennials invest in the stock market, and the most common reason cited by that group was not knowing enough about the market.

A conversation with a financial advisor can be prohibitively expensive for investors just getting started, and the tools that are intended to cater to this group – robo-advisors – aren’t delivering on the advice side. In fact, only 5% of U.S. investors surveyed by Gallup feel that robo-advisors make people feel confident about their investments, and only 15% of investors think robo-advisors are meeting their needs by taking their entire financial picture into account.

To complement the guidance provided by SoFi Invest Advisors, SoFi is also developing comprehensive financial planning offerings focused on its members most important needs outside of investing: first-time home buying, young family financial planning, and joint financial planning for couples. SoFi will begin delivering these highly-personalized, needs-specific plans this summer.

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.

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