Platform Comparison

Ellevest vs SoFi Invest

Compare Ellevest and SoFi Invest on fees, DRIP, fractional shares and research for dividend investing.

EL

Ellevest

★3

Ellevest discontinued its robo-advisor service in February 2025—existing accounts were transferred to Betterment. Private wealth management continues for $500K+ clients.

Full Review
Higher Rated
SF

SoFi Invest

★4.3

A modern all-in-one financial platform combining commission-free investing with banking, loans, and complimentary access to financial advisors.

Full Review

Ellevest vs SoFi Invest: Fees, Minimums & DRIP Compared

FeatureEllevestSoFi Invest
Our Rating3/54.3/5
Trading CommissionsN/A$0
Account MinimumN/A$0
Fractional SharesN/AYes
DRIPN/AFree
Research ToolsAutomatedBasic
Best ForHigh-Net-Worth WomenBeginners

Ellevest vs SoFi Invest: Pros and Cons

Ellevest

Pros

  • + Private wealth management still available ($500K+ minimum)
  • + Existing robo clients transitioned to Betterment (solid alternative)
  • + Betterment offers similar features with good reputation
  • + Historical focus on women's financial needs was innovative
  • + Career coaching services continue separately

Cons

  • - Robo-advisor service discontinued February 2025
  • - Regular investors can no longer open new accounts
  • - $500K minimum for remaining wealth management services
  • - Transition to Betterment may not suit all former clients

SoFi Invest

Pros

  • + Commission-free trading on stocks, ETFs, and options
  • + No account minimum; fractional shares from $5
  • + Free access to certified financial advisors for 30-minute consultations
  • + Automated investing (robo-advisor) at just 0.25% annual fee
  • + Banking, investing, loans, and insurance under one roof

Cons

  • - Basic trading platform lacks advanced screeners and charting
  • - No tax-loss harvesting (unlike competitors like Betterment)
  • - Limited portfolio customization in robo-advisor
  • - No mutual funds or bonds in active investing

Which Is Better for Dividend Investors: Ellevest or SoFi Invest?

Choose Ellevest if you...

  • Are in Ellevest's core audience: high-net-worth women

Choose SoFi Invest if you...

  • Are in SoFi Invest's core audience: beginners
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our Ellevest review and SoFi Invest review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.