Can you provide a range of percentages that SoFi receives on EFTs or other investment opportunities as compared to an average mutual fund managed by a financial advisor? I understand that the management fee is very low, and waived for members, but I am curious about actual amounts SoFi receives for, say a $5,000 investment in a standard diversified portfolio.


  • John FJohn F Member, Moderator, Sofi Wealth Expert mod

    While the ETFs in Wealth portfolios do have small fees, SoFi receives no part of those fees. For example the expense ratio of SPY, the S&P 500 ETF, is 9 basis points, or 0.09%. This amount reduces the investor's return on the fund, but is not shared with SoFi in any way. You can see the expense ratio of each ETF by clicking on its symbol.
    In your example, even if the client did not have a loan with us, we would receive no management fee from the client, since their account is less than $10,000 in value. If the value exceeded $10,000, we'd charge $5 per month up to $100,000, then $10 per month until the value hit $200,000, and so on.

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