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SoFi (NASDAQ: SOFI) is notably opening doors for everyday investors. In this clip from “The Future of Fintech” on Motley Fool Live, recorded on Feb. 10, Motley Fool contributors Matt Frankel and Jason Hall discuss how SoFi is catering to new and beginner investors by pulling back the curtain on participating in IPOs, a service that is helping to distinctly differentiate SoFi from its competitors.
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Matt Frankel: SoFi is differentiating its brokerage by allowing everyday investors to participate in IPOs with no minimum account size. If Stripe does go public, you may be able to participate in it through SoFi by depositing, say $100 into a brokerage account, which you cannot do with most other brokers. I’ve tried to invest in anticipated IPOs through TD Ameritrade (NASDAQ: AMTD) for years and I’ve been successful maybe once. I would’ve loved to buy into the Airbnb (NASDAQ: ABNB) IPO in late 2020, just to name one example. I got shut out of that because my broker wasn’t offering it. That’s a big differentiator too, especially to younger investors who have seen this as like being the realm of the rich for years and years.
Jason Hall: I just want to point out the delicious irony here that through SoFi, Dark Moon was offered the opportunity to invest in the IPO of a digital bank.
Frankel: NuBank (NYSE: NU). [laughs] Well, they’re in Brazil. It’s not a direct competitor.
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TD Ameritrade is an advertising partner of The Ascent, a Motley Fool company. Jason Hall owns Airbnb, Inc. and SoFi Technologies, Inc. Matthew Frankel, CFP® owns SoFi Technologies, Inc. The Motley Fool owns and recommends Airbnb, Inc. The Motley Fool has a disclosure policy.
