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 Fidelity Go. 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 Fidelity Go 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, Fidelity Go has annual fees of 0.35%.
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 Fidelity Go.
At $10, Fidelity Go 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.
|Review||SoFi Wealth Management Review||Fidelity Go 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||Retirement – 0.35%/year; Taxable – 0.35-0.40%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, SEP IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA|
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||Monthly|
|Clearing Agency||Apex Clearing||National Financial Services, LLC|
|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 8A-8P ET; Live Chat: M-F 8A-8P ET|
|Assets Under Management||$12M||$186M|
|Number of Accounts||2K||N/A|
|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 Fidelity Go
Fidelity Go is Fidelity's entry into the robo advisor space. Its pricing is very transparent, and if you have an existing account, it might be a service for your one-stop shopping. However, the service lacks some of the features that more established robo advisors already offer.