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 SoFi Wealth Management and E*TRADE Core Portfolios. 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 SoFi Wealth Management and E*TRADE Core Portfolios stack up against each
other on these features.
To start, we will compare the fees for trading with both robo
advisors. SoFi Wealth Management has
annual fees at 0% fee per year. In
contrast, E*TRADE Core Portfolios has annual fees of 0.30%.
SoFi Wealth Management wins because their service is free to use.
Let's consider the minimum investment that's required to use both SoFi Wealth Management and E*TRADE Core Portfolios.
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, SoFi Wealth Management rates 8.5 out of 10, while E*TRADE Core Portfolios ranks 7.5 out of 10. For more information on either, you can read our full reviews on SoFi Wealth Management and E*TRADE Core Portfolios.
|Review||SoFi Wealth Management Review||E*TRADE Core Portfolios Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||Free under $10k and SoFi Borrowers; 0.25%/year||0.30%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, SEP IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial|
|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||Weekly, Biweekly, Monthly and Bimonthly||Daily, Weekly, Biweekly and Monthly|
|Clearing Agency||Apex Clearing||N/A|
|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-Th 7A-5P, F 7A-4P PT; Live Chat: M-Th 7A-5P, F 7A-4P PT; Email||Phone: M-F 12A-11:59P ET; Live Chat: 24/7|
|Assets Under Management||$12M||$4B|
|Number of Accounts||2K||229K|
|Sign Up||Sign Up|
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.
About E*TRADE Core Portfolios
E*TRADE Core Portfolios 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 Core Portfolios. Unfortunately, you need at least $5,000, and it doesn't offer tax-loss harvesting.