Wells Fargo is blending robo-advisor technology with the human touch for a new investment advisory account dubbed Intuitive Investor.
While many banks are cashing in on the robo-advisor trend to bring cheap wealth management services to the masses, Wells is keeping the human element.
The account combines digital access to strategies from Wells Fargo Investment Institute with the option to access financial advisors. This, says the bank, empowers customers to affordably implement tailored investment portfolios aligned to their personal investment goals and needs.
Customers can get started with a minimum $10,000 investment, managed at a 0.5% annual advisory fee.
"Technology enables us to address the investing needs of millions of next-generation Wells Fargo customers - many of whom are digitally savvy and seek convenient advice," says Eddie Queen, head, digital and automated investing, Wells Fargo Advisors.
"The Intuitive Investor offering delivers a compelling experience that combines the convenience of digital investing with access to experienced financial advisors."