SoFi is excited to share the news: members will now be eligible to earn money on shares they already own with SoFi’s share lending program. Any SoFi Invest member that holds shares in their account, regardless of the number of shares or the dollar value, will be eligible to earn on their currently held shares.
SoFi’s goal is to help members get their money right, and this is yet another way we are helping to put more money in members’ pockets. Members will earn 15% of the total net proceeds earned and received for lending shares if their shares are lent.
SoFi Invest members are automatically enrolled in the program, and will receive payments at the end of each month if their shares were lent out the prior month. If members do not want to participate, they only need to send a quick message to SoFi via the chat function online or in-app, and they will be unenrolled. Members can review the details on potential risks here, and our lending agreement here, anytime to evaluate if this program suits their needs and goals.
SoFi members will be receiving these benefits via the Fully Paid Securities Lending Program offered through our clearing broker, Apex Clearing. Nothing else about the trading experience changes for investors, except they now have the potential to earn more on their investments!
We know that members are increasingly turning to investing to help achieve financial independence, and offering share lending is our way of helping eligible members earn more money on those investments and achieve their financial goals. For those of our members who are not already investing with SoFi, they can sign up here to get started.
Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).
Advisory services are offered through SoFi Wealth LLC, an SEC-registered investment adviser.
For members enrolled in the Apex Fully Paid Securities Lending Program, securities are lent based on the Master Securities Lending Agreement. Members are eligible to receive a monthly payment if Apex lends out any securities. The payment is a percentage of the total net proceeds earned, which is subject to change. There are risks with share lending, for a detailed review of those risks please review the Important Disclosure. Members may opt out of the Securities Lending Program at any time by sending us a message via chat.