Reviewed by
Stang Gappa
Reviewed by
Stang Gappa
Updated on May 30, 2024
Learn about our Editorial Process
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.
Merrill offers a simple, automated IRA with customizable portfolios and potential fee discounts for existing Bank of America and Merrill Lynch customers.
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.
A Merrill Guided Investing IRA is a great option for beginner and hands-off investors who want a straightforward, automated portfolio with human oversight. Current Bank of America or Merrill customers may be eligible for a discount on the annual account management fee.
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.
Bank of Ameria customers and current Merrill customers who meet required account balance minimums may be eligible for Merrill’s Preferred Rewards – a perk that includes lower management fees.
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.
Beginner and hands-off investors might appreciate the simple, customizable portfolios offered by a Merrill Guided Investing automated IRA, especially if they currently have an account with Merrill or Bank of America. However, an account will come with higher management fees and account minimums than some other providers who offer a similar service.
If you’re looking to fund your Merrill Guided 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) rollover in just a few minutes.
