SoFi Invest members will now be able to invest in mutual funds and money market funds as well as select alternative investments
San Francisco, CA – January 29, 2023– SoFi (NASDAQ: SOFI), the all-in-one digital personal finance company, announced today that SoFi Invest members will now be able to invest in select alternative investment funds, mutual funds, and money market funds. With the launch of alternative investments, SoFi is granting everyday investors access to the power to build and protect their wealth through investment opportunities traditionally reserved for the ultra wealthy.
Initially, SoFi will offer over 6,000 different mutual funds to members on the SoFi Invest pslatform, as well as access to invest in the ARK Venture Fund, Carlyle Tactical Credit Fund (CTAC), KKR Credit Opportunities Portfolio (KCOP), as well as Franklin Templeton’s Clarion Partners Real Estate Income Fund (CPREX) and Franklin BSP Private Credit Fund (FBSPX). These funds feature a unique lineup of assets, including private credit, real estate and pre-IPO companies offering a diverse mix of investing opportunities. SoFi will roll out access to alternative investments, mutual funds and money market funds to all SoFi Invest members over the coming days.
“Our goal at SoFi is to empower our members to get their money right so they can aieve financial independence. We know investing is critical to building wealth, but many investment vehicles are still not accessible to everyday investors,” said Anthony Noto, CEO of SoFi. “Introducing access to alternative investments continues our focus of offering access to investments that are usually reserved for the ultra wealthy, and allows us to provide our members with even more choice and flexibility when it comes to investing their hard-earned money.”
Alternative Investments & Increasing Accessibility
SoFi will continue to be a leader in affordable investing by offering no SoFi transaction fees for mutual funds and no transaction fees for the new alternatives funds for the first 60 days. After this promotional period, SoFi will offer a competitive 0.50% purchase fee for the alternatives funds with low minimum investment.
Traditionally, alternative investments have the potential to provide uncorrelated returns compared to traditional investments and offer opportunities to invest in private companies and assets with significant growth potential. Until recently, many investors haven’t been able to invest in certain of these funds, which limited their ability to diversify investments with alternatives. SoFi Invest offers a wide range of investing tools from traditional stocks to ETFs to robo-investing, access to IPOs, and now will include mutual funds, money market funds, and alternatives funds across a broad range of categories including commodities, currency alternatives, and venture capital. SoFi is the only digital finance app that allows its members to borrow, save, spend, invest, and protect their money all in one place.
Educating Investors on Alts
Alongside access to alternative investments, SoFi is also launching an educational hub to help investors better understand these investment vehicles. The educational hub will cover topics such as the basics of what alternative investments are, how they work and fit into a portfolio, and be available to any investor, not just SoFi members.
Additionally, SoFi offers all members complimentary access to Certified Financial Planners (CFPsTM) to discuss their full financial plans and goals to ensure they are making the right moves for their goals and needs.
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 7.5 million SoFi 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 career advisors, Certified Financial Planner™ (CFP®) professionals, exclusive experiences and events, and a thriving community – on their path to financial independence.
SoFi innovates across three business segments: 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. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.