SAN FRANCISCO – October 14, 2020 – SoFi, the digital personal finance company, announced today the launch of its social trading and investing features within SoFi Invest, including the ability to follow friends, family, and other SoFi members on their investing journeys, all within the full SoFi experience.
The platform’s new capabilities are available to all SoFi Active Investing members today, and include the ability to share their investment portfolios – with exact dollar amounts hidden – and also discover and follow the holdings, watchlists, and activity of members who have opted into the feature. Members can also comment on or react to the trades of investors they follow, and see how they stack up against the market and other investors via a dynamic leaderboard.
“According to SoFi’s research, about 70% of SoFi Invest member respondents indicated that they regularly (at least weekly) discuss their investments with family members, peers, or colleagues,” said Anthony Noto, CEO of SoFi. “Our new social investing features not only help us live up to our name of Social Finance, but provide ways for investors to see specifically what members on the platform are doing with their investment decisions, discover new investment ideas, and see how they stack up in their investing performance. Given the importance of investing early and consistently, we are thrilled to be able to provide a more informative, engaging, interactive mobile investing experience rooted in building better investing habits.”
Participation is entirely optional and must be manually enabled in the mobile app. For more information, please visit sofi.com/invest.
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi 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.
The investments of other users should not be used as the basis for an investment decision, please consider your individual circumstance prior to investing. Investing comes with risk including the risk of loss.
SoFi Lending Corp. CFL# 6054612, NMLS #1121636 (www.nmlsconsumeraccess.org).
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below).
The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
The Digital Assets platform is owned by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.