SoFi Automated IRA vs TD Essentials IRA

SoFi: best if you want

With no account minimum, low annual management fee, and access to a range of great financial tools including Certified Financial Planners, a SoFi Robo IRA is a great option for beginner and hands-off investors. While there is some limited ability to influence the portfolio they create for you, you can change portfolio themes or your risk appetite. SoFi’s mobile app and web platforms are well liked, as seen by the positive reviews across app stores. Overall, those looking for a mobile-first experience that takes the work out of investing with recommendations built by industry experts will appreciate a SoFi Robo IRA.

SoFi is a digital-first institution that offers a simple, low-fee rollover IRA managed for you. One of the early “fintech” companies, SoFi started out by helping people refinance their loans. From that start they’ve expanded into a range of financial services, recently launching investment accounts that include rollover IRAs.

The SoFi experience is built for mobile, so if you want a well-designed, mobile-first way to manage your retirement savings, then the SoFi Robo IRA is a great option.

TD Ameritrade: best if you want

TD Ameritrade was acquired by Charles Schwab in 2020. We also have a comprehensive review of Charles Schwab’s Intelligent Portfolios Automated IRA.

SoFi: other features

SoFi’s overall mission is to help you “Get your money right”. To do that, they offer a broad selection of financial services – all digital, and all built with a younger, tech-savvy user in mind. Besides investment accounts, SoFi offers a checking account, student loan refinancing, personal loans, home loans, and even insurance products.

As part of your investment account experience, you’ll get access to a team of certified financial planners (CFPs) available to chat with you by phone. This is a nice perk for those who might have extra financial questions.

TD Ameritrade: other features

TD Ameritrade was acquired by Charles Schwab in 2020. We also have a comprehensive review of Charles Schwab’s Intelligent Portfolios Automated IRA.

Conclusion

SoFi offers a simple, no-fee, automated IRA. If you want somebody to manage your IRA with little fuss, it’s a solid option. You’ll also be able to establish a broader relationship with SoFi and access a full range of financial services over time.

If you’re looking to fund your new SoFi Automated Investing IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) to IRA rollover in just a few minutes.

TD Ameritrade was acquired by Charles Schwab in 2020. We also have a comprehensive review of Charles Schwab’s Intelligent Portfolios Automated IRA.