Robo adviser fined $300k tied to conflicts around two proprietary ETFs

Prior to SoFi Wealth’s decision to move client assets into the new SoFi ETFs, and prior to the transfer itself, SoFi Wealth did not perform any analysis to determine how the movement of client assets to its proprietary ETFs would impact its clients from a tax perspective, nor did SoFi Wealth have policies and procedures in place to address the inclusion of proprietary products in its automated investing program

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