SoFi Invest vs Acorns

Struggling to choose between SoFi Invest and Acorns? Both products offer unique advantages, making it a tough decision.

SoFi Invest is a Finance solution with tags like investing, stocks, etfs, cryptocurrency, financial-planning.

It boasts features such as Automated investing with no account minimums, Active stock and ETF trading, Cryptocurrency investing, Financial planning services, No trading commissions or account fees and pros including Low cost investment options, Easy to use interface and automated tools, Access to financial advisors, Can open IRA accounts, No account minimums.

On the other hand, Acorns is a Finance product tagged with microinvesting, spare-change, index-funds, diversified-portfolio.

Its standout features include Round-up spare change, Automated investing, ETFs and index funds, Goal-based investing, Found Money cashback rewards, Acorns Spend debit card, Acorns Later retirement accounts, and it shines with pros like Easy way to invest small amounts, Hands-off approach, Low fees, Educational resources.

Feature	SoFi Invest	Acorns
Overall Score	N/A	N/A
Primary Category	Finance	Finance

Product Overview

SoFi Invest

Description: SoFi Invest is an online investment platform that offers automated investing, active trading, and financial advice services. Users can open various investment accounts like IRAs and invest in stocks, ETFs, and crypto with no account minimums or fees.

Acorns

Description: Acorns is a micro-investing app that allows users to invest their spare change from everyday purchases. It automatically invests small amounts into a diversified portfolio of index funds to grow users' money over time.

Key Features Comparison

SoFi Invest Features

• Automated investing with no account minimums
• Active stock and ETF trading
• Cryptocurrency investing
• Financial planning services
• No trading commissions or account fees

Acorns Features

• Round-up spare change
• Automated investing
• ETFs and index funds
• Goal-based investing
• Found Money cashback rewards
• Acorns Spend debit card
• Acorns Later retirement accounts

Pros & Cons Analysis

SoFi Invest

Pros

• Low cost investment options
• Easy to use interface and automated tools
• Access to financial advisors
• Can open IRA accounts
• No account minimums

Cons

• Limited investment selection compared to full-service brokers
• No brick-and-mortar locations
• Cryptocurrency only available in select states

Acorns

Pros

• Easy way to invest small amounts
• Hands-off approach
• Low fees
• Educational resources

Cons

• Limited investment options
• No control over specific investments
• Requires linking bank account
• Monthly fee for higher tiers

Pricing Comparison

SoFi Invest

• Free
• Subscription-Based

Acorns

• Free
• Freemium
• Subscription-Based