At Investor Junkie, we reviewed over one hundred investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. It turns out; users also want to compare specific services.
This review compares E*TRADE Adaptive Portfolio and SoFi Wealth Management. The better service depends on your needs. So let's dive in!
According to our readers (you!), when it comes to robo advisors, people care most about the
fees, minimum investment requirements, and whether or not the service supports for 401(k) plans.
Let's look at how E*TRADE Adaptive Portfolio and SoFi Wealth Management stack up against each
other on these features.
To start, we will compare the fees for trading with both robo
advisors. E*TRADE Adaptive Portfolio has
annual fees at 0.30% fee per year. In
contrast, SoFi Wealth Management has annual fees of 0%.
When it comes to fees, SoFi Wealth Management wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both E*TRADE Adaptive Portfolio and SoFi Wealth Management.
At $100, SoFi Wealth Management requires a smaller minimum deposit.
Unfortunately, neither service offers assistance with your 401(k) and you will have to find another service if this is a requirement for you.
Overall, E*TRADE Adaptive Portfolio rates 7.5 out of 10, while SoFi Wealth Management ranks 8.5 out of 10. For more information on either, you can read our full reviews on E*TRADE Adaptive Portfolio and SoFi Wealth Management.
|Review||E*TRADE Adaptive Portfolio Review||SoFi Wealth Management Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||0.30%/year||Free under $10k and SoFi Borrowers; 0.25%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial||Taxable, Joint, Roth IRA, Traditional IRA, SEP IRA|
|Advice||Human Assisted||Human Assisted|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting|
|Retirement Planning Tools|
|Automatic Deposits||Daily, Weekly, Biweekly and Monthly||Weekly, Biweekly, Monthly and Bimonthly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 12A-11:59P ET; Live Chat: 24/7||Phone: M-Th 7A-5P, F 7A-4P PT; Live Chat: M-Th 7A-5P, F 7A-4P PT; Email|
|Assets Under Management||$4B||$12M|
|Number of Accounts||229K||2K|
|Sign Up||Sign Up|
About E*TRADE Adaptive Portfolio
E*TRADE Adaptive Portfolio offers a robo advisor service at a reasonable cost. If you are an existing E*TRADE customer and are considering an automated investment service, you may want to use Adaptive Portfolio. Unfortunately, you need at least $5,000, and it doesn't offer tax-loss harvesting.
About SoFi Wealth Management
SoFi Wealth Management is an investment management service that combines robo investing with access to a human financial advisor. Accounts are free for SoFi borrowers and those with a portfolio below $10,000. SoFi Wealth Management focuses only on index fund investments to meet your financial goals, and you won't find tax loss harvesting.