SoFi Partners with BlackRock Inc. to Offer Retail Investors Access to Sophisticated Portfolios and Increased Selection
SAN FRANCISCO, November 12, 2024–(BUSINESS WIRE)–Today, SoFi (SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, announced the launch of a new robo-advisor platform, expanding on the company’s current automated investment offering. SoFi is now one of the few automated investment platforms to provide access to alternative asset classes alongside traditional and sustainability-focused funds. These offerings, built in partnership with the world’s largest asset manager, BlackRock Inc. (BLK), expose investors without significant financial resources, or a wealth manager, to new strategies and funds, some of which would otherwise require a seven-figure investment minimum.
The new robo offering comes on the heels of SoFi’s early 2024 launch of alternative investment funds. With more than 8 in 10 (81%1) of people expressing interest in alternative investments, SoFi is addressing a broader market need with a low-fee, personalized approach to investment strategies, all available on a platform that’s both intuitive and educational.
“Our new robo platform bolsters our commitment to empowering the everyday investor,” said Anthony Noto, CEO of SoFi. “We launched one of the broadest offerings of alternative assets available from an online brokerage. Since then, we’ve been focused on how we can continue to scale our platform to meet the needs of more members, regardless of where they are on their financial journey. SoFi Robo Investing marks yet another milestone as we continue to deliver on our mission to build a one-stop financial platform that helps our members unlock their long term goals in a meaningful way.”
SoFi’s Robo Investing product offers the benefits of always-on automation plus expert-curated portfolios for 0.25% annual advisor fee and allows members to adjust taxable and non-taxable portfolios to meet their unique needs. Members can now select from three portfolio themes: “Classic,” which offers a balanced, low-cost mix of stock and bonds; “Classic with Alternatives,” which is one of the first to offer access to alternative asset classes (e.g., real estate and multi-strategy funds); and “Sustainable,” which offers a well-diversified mix of stocks and bond funds with favorable environmental, social, and governance practices.
“The combination of these elements – high-value, automated investment opportunities – developed and personalized by financial experts – all paired with our members’ 1-1 access to CFPs – is what makes the whole package incredibly valuable when it comes to helping our members make progress toward achieving their long term goals,” said Brian Walsh, PhD, CFP® and Head of Advice & Planning at SoFi. “As always, we’ve packaged this offering into a fully digital experience – that’s clear, yet customizable – to empower our members to take control of their financial futures.”
