Reviewed by
Stang Gappa
Reviewed by
Stang Gappa
Updated on May 29, 2024
Learn about our Editorial Process
Betterment offers an automated IRA as the largest independent online financial advisor, and pioneered "set-it-and-forget-it" portfolios for a low-fee.
SoFi offers hands-off approach with an automated IRA. Enjoy a low, $1 account minimum and no annual management fee with access to Certified Financial Planners in a user-friendly robo-advisor platform.
Betterment was one of the first companies to provide fully managed accounts for a low-fee, launching its extremely popular service in 2008. It’s commonly referred to as a “roboadvisor”, and it pioneered the category along with several other players like Wealthfront. Betterment has grown rapidly over the years and now manages almost $30 billion of investment assets.
Despite its growth and a broadening range of services, Betterment has retained its customer-first philosophy. At its core, Betterment offers an easy-to-use service that manages your money for you. This is often referred to as a “set-it-and-forget-it” portfolio and it’s best for those who don’t want to be actively picking investments in their retirement account.
SoFi is a digital-first institution that offers a simple, no-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 Automated IRA is a great option.
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.
Betterment offers one of the best digitally managed IRAs in the market today. Their commitment to doing right by the customer and providing simple-to-use products make it a very good choice for people looking to have their retirement account handled for a low-fee.
Paid client of Betterment. Views may not be representative, see more reviews at the App Store and Google Play Store. Learn More about this relationship.
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.
