Skip to content

SoFi Add Alts to Investing Portfolio Offerings

Digital personal finance company SoFi announced that SoFi Invest members will now be able to invest in select alternative investment funds, mutual funds, and money market funds.

Initially, SoFi will offer over 6,000 different mutual funds to members on the SoFi Invest platform, 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 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, according to a company announcement.

“Our goal at SoFi is to empower our members to get their money right so they can achieve 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.”

SoFi will continue to offer 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 0.50% purchase fee for the alternatives funds with low minimum investment. 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, and how they work and fit into a portfolio.

SoFi (NASDAQ: SOFI) describes itself as 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 provides lending and financial services to more than 7.5 million members via an end-to-end vertically integrated financial capital stack.

Click here to visit The DI Wire directory page.