SoFi Invest is a better option for investors with lower minimum investment requirements and those seeking a wider range of investment options and a more comprehensive mobile app. Charles Schwab Intelligent Portfolios Premium may be more suitable for investors who prefer unlimited access to financial advisors and tax-loss harvesting (with a higher minimum investment) and in-person support.
| Attribute | Charles Schwab Intelligent Portfolios Premium | SoFi Invest |
|---|---|---|
| Minimum Investment Required | $25,000 | Active Investing account: $5, Robo Investing account: $50 |
| Management Fees | $30 monthly subscription fee, plus a one-time $300 planning fee. Expense ratios on the ETFs used in the portfolios (average of 0.12%, ranging from 0.04% to 0.18%) | Robo-advisor: 0.25% annually, Self-directed investing: No management fees |
| Advisory Services Offered | Comprehensive financial planning with guidance from a CERTIFIED FINANCIAL PLANNER (CFP). Access to online planning tools. Guidance for various life milestones (buying a home, having a child, college savings, retirement, income, budgeting, etc.) | Automated investing (robo-advisor), Access to financial planners, SoFi Plus members get unlimited advice appointments. Non-SoFi Plus members get one appointment. |
| Investment Options Available (e.g., ETFs, stocks, crypto) | ETFs (spanning stocks, fixed income, and commodities). Up to 20 asset classes. Cash allocation (FDIC-insured deposit accounts at Charles Schwab Bank, SSB) | Stocks, ETFs, Fractional shares, Options, Mutual funds (over 6,000 no-transaction-fee mutual funds), Alternative investment funds (including commodities, currency alternatives, venture capital, private credit, real estate, and pre-IPO companies), IPOs |
| Tax-Loss Harvesting | Available for clients with invested assets of $50,000 or more in their taxable account. Clients must choose to activate this feature. | Not offered by SoFi |
| Financial Planning Tools | Comprehensive financial plan providing a customized roadmap for reaching financial goals. "Play Zone" to stress test your plan by adjusting retirement age, saving rates, and lifestyle choices. "Intelligent Income" tool to determine how much you can withdraw per month in retirement and set up tax-efficient withdrawals. | Certified financial planners for advice, Educational resources, Financial literacy educational guide, Retirement calculators, Budgeting tools |
| Account Types Supported (e.g., taxable, retirement) | Individual and joint taxable brokerage accounts. Traditional and Roth IRAs. SEP, SIMPLE, inherited, and rollover IRAs. Trusts, UGMA, UTMA, tenants in common, and community property accounts. | Individual brokerage accounts, Joint brokerage accounts, Traditional IRAs, Roth IRAs, SEP IRAs, Rollover IRAs, Margin accounts |
| Customer Support Channels (e.g., phone, email, chat) | 24/7 phone and live chat support. Access to professionals with Series 7/63 or 7/66 licenses (though these advisors do not give personalized investment advice). In-person consultations at Schwab branches. | Help center, Virtual assistant (24/7), Phone and chat support (limited hours) |
| Mobile App Availability and Features | Not explicitly detailed, but likely offers standard features for account monitoring and management. | Available on Android and iOS, Stock and ETF trading, Fractional share trading, Funds transfers, Account activity tracking, Mobile check deposit, Bill Payment, Budgeting tools |
| Portfolio Customization Options | Portfolios are based on your personal goals and risk tolerance. Schwab suggests an asset allocation. Clients can exclude up to 3 ETFs. | Robo-advisor creates portfolios based on risk preferences, Active investing allows self-directed portfolio construction |
| Automatic Rebalancing Frequency | Portfolios are monitored daily and rebalanced as needed to keep the portfolio consistent with the client's selected risk profile. Trading may not take place daily. | Monitored daily and rebalanced when more than 5% off-target, Rebalancing occurs when money enters or leaves the account |
| Educational Resources Provided | Not detailed, but Schwab generally provides various educational resources. | SoFi Learn, Articles, webinars, and live events, Educational hub for alternative investments |