Partnership Disclosure We might be compensated by one of our IRA partners for an account you open through our platform. This helps us keep the service free, but it never impacts the fees you’ll pay on your new account. We only win if you do, and our job is to help you simplify your retirement accounts. We also help people who already have an IRA account even though we receive no compensation in these situations—because it’s just the right thing to do!

SoFi Automated IRA vs Merrill Guided Investing IRA

SoFi Automated is a great option if you want A zero-fee portfolio from a Milennial-focused brand with a range of other financial products like student loan refinancing and debit cards.

Consider Merrill Guided Investing if you want A simple automated porfolio from Merrill Lynch with potential fee discounts for existing Bank of America / Merrill Lynch customers.

SoFi Automated IRA

Automated

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Best if you want A zero-fee portfolio from a Milennial-focused brand with a range of other financial products like student loan refinancing and debit cards.
Fees 0%
What they invest in All digital advisors create a diversified porfolio of ETFs (Exchange-traded funds) based on your risk tolerance and preferences.
Limitations Not much ability to influence the portfolio they create for you.
Human advisor available? Yes – SoFi has certified financial professionals on staff that you’ll get access to.
Account Minimums $0
Ease of Use 5 stars
Customer Support Mix of online and call center
Additional Info Read our full review Learn more about SoFi

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Merrill Guided Investing IRA

Automated

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Best if you want A simple automated porfolio from Merrill Lynch with potential fee discounts for existing Bank of America / Merrill Lynch customers.
Fees 0.45%
What they invest in All digital advisors create a diversified porfolio of ETFs (Exchange-traded funds) based on your risk tolerance and preferences.
Limitations A platform that’s not quite as easy-to-navigate as newer institutions.
Human advisor available? Only if you have more than $20,000 to invest and are willing to pay a higher fee (0.85% p.a.).
Account Minimums $5,000
Ease of Use 2 stars
Customer Support Mix of online and call center.
Additional Info Read our full review Learn more about Merrill Lynch

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Ready to take control of your assets?

Capitalize helps you consolidate your old 401(k)s by rolling them into an IRA of your choosing. Use an existing IRA if you have one, or we’ll help you open one if you don’t.