Social Finance Inc. says it exists to help users take control of their finances. But the firm’s launch this month of two no-fee exchange-traded funds stands to hit some customers with unexpected taxes. The San Francisco financial-technology firm last week launched two SoFi-branded ETFs that offer broad exposure to different slices of the U.S. stock market. Billed as the first zero-fee ETFs on the market, the SoFi Select 500 ETF and the SoFi Next 500 ETF debuted April 11 with a CNBC appearance by Anthony Noto, SoFi’s chief...

Source: Wall Street Journal April 19, 2019 16:20 UTC