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SoFi’s recent launch of its wealth management arm, SoFi Wealth, is an early indicator of how fintechs and other innovators in financial services may look to serve their customers more comprehensively across a spectrum of financial needs. SoFi Wealth will allow the online lender to extend the lifecycle of its relationship with borrowers by offering them wealth management services at a low cost. In addition, leveraging an already strong customer base will lower acquisition costs and diversify the lender’s revenue.

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