SoFi, the digital personal finance company, has launched a new feature that allows its members to invest in alternative assets, such as private credit, real estate and pre-IPO companies. These assets are usually reserved for the ultra wealthy, but SoFi is making them accessible to anyone with a low minimum investment and no transaction fees for the first 60 days.
The company is also offering over 6,000 mutual funds and money market funds on its platform, giving its members more choice and flexibility in building their portfolios. Some of the alternative funds available include the ARK Venture Fund, Carlyle Tactical Credit Fund, KKR Credit Opportunities Portfolio, and Franklin Templeton’s Clarion Partners Real Estate Income Fund and Franklin BSP Private Credit Fund.
SoFi CEO Anthony Noto said that the company’s goal is to empower its members to achieve financial independence by providing them with affordable and diverse investing options. He added that SoFi is the only digital finance app that lets its members borrow, save, spend, invest, and protect their money all in one place.
To help its members understand alternative investments, SoFi is also launching an educational hub that covers the basics of these assets and how they fit into a portfolio. The hub is open to any investor, not just SoFi members. Additionally, SoFi offers free access to Certified Financial Planners to help its members plan their financial goals and strategies.