Investing > Best Brokerage for Beginners
SoFi Invest was released to the public in early 2019 and it is geared toward beginning investors. People can dip a toe into SoFi invest with as little as $1. And we offer free calls with an advisor to discuss big picture financial goals one-on-one.
As part of this offering, we introduced the first ever fee-free exchange-traded funds (ETFs) representing the top 1,000 fastest growing, publicly traded companies (JP Morgan later followed suit). We also introduced the first ever gig economy ETF. SoFi Invest is the only investing platform that allows for robo-investing, brokerage, ETFs, and crypto trading in one place, all at no or low cost.
Another investment option that is appealing to new investors is SoFi’s Stock Bits, the ability to buy and sell fractional shares. Traditional wisdom says to “buy what you know and love,” but with stocks like Amazon, Google, or Apple costing thousands of dollars, most beginning investors are priced out of those stocks. We’ve enabled fractional share buying through Stock Bits to give newer investors a way to buy into the companies they know at a price point they are comfortable with. We’ve seen remarkable change in the major holdings within Invest portfolios since introducing this feature, more representative of mainstream popular stocks.
SoFi’s goal is to help members get their money right. With SoFi Invest, members not only get a free consumer investing service that offers stocks, ETFs, and roboadvising, with no commissions or management fees they get SoFi membership, which comes with usage of any SoFi product and offers benefits including events across the country, complimentary financial planning, and career coaching to all active members. Members also receive incentives on SoFi products, including rate discounts on loans. These offerings make SoFi Invest the best brokerage for new investors to the market.