We've reviewed many investing and personal finance services. We want to help you make the best decision of which service best suits your needs.
This comparison we review SoFi Wealth and Swell Investing.
From our research, annual fees, minimum deposit, and 401(k) support the most important
features which choosing a robo advisor. Let's look at how SoFi Wealth and Swell Investing stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. SoFi Wealth has
annual fees at 0% fee per year. In
contrast, Swell Investing has annual fees of 0.75%.
SoFi Wealth wins because their service is free to use.
Let's consider the minimum investment that's required to use both SoFi Wealth and Swell Investing.
At $50, Swell Investing 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 Review||Swell Investing Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||None||Invest for Free for 1 Year With Promo Code "MAY5K"|
|Account Fees||Free under $10k and SoFi Borrowers; 0.25%/year||0.75%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA||Taxable, Roth IRA, Traditional IRA, SEP 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||Weekly, Monthly|
|Clearing Agency||Apex Clearing||Folio Institutional|
|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|
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 9-5 PT; Email|
|Assets Under Management||$12M||$7M|
|Number of Accounts||2K||18|
|Sign Up||Sign Up|
About SoFi Wealth
SoFi Wealth 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 focuses only on index fund investments to meet your financial goals, and you won't find tax loss harvesting.
About Swell Investing
Swell Investing was created to help users invest in socially responsible stocks. These include investments in alternative energy, clean water and healthy living. Swell requires a minimum investment of only $50, which makes it appealing and accessible to new and younger investors. On the downside, Swell's management fee runs a bit steep, and the service lacks some features of other robo advisors such as tax-loss harvesting.