Wells Fargo Advisors' Intuitive Investor robo-adviser technology files ADV registration

The service, which will be launched as a pilot program for customers in June, will require a minimum investment of $10,000 and charge 50 basis points

Mar 27, 2017 @ 12:46 pm

By InvestmentNews

Wells Fargo Advisors revealed details of its plans to launch a robo-adviser in a filing with the Securities and Exchange Commission on Monday.

The service will require a minimum investment of $10,000 and charge a 50 basis point fee, the firm said in a filing of its ADV registration documents for the digital service. The fee also includes access to financial advisers as needed via phone support.

The service, known as Intuitive Investor, will target younger clients who don't have an investment relationship with Wells Fargo Advisors, the firm said in announcement last year.

ETFs offered in the robo's portfolios will be a mix of passive broad-based index and smart beta strategies selected by the Wells Fargo Investment Institute, which also designed the asset allocation models.

Management of the portfolios will be done by SigFig, an independent, San-Francisco-based wealth management technology company, whose algorithms will rebalance the portfolios and harvest tax losses when appropriate, Wells Fargo said.

A pilot roll-out of the robo-adviser among Wells' brokers will begin in the second quarter, the bank said. A customer pilot is expected in the summer.

The latest research from InvestmentNews finds that offering a robo-advice platform may not be right for all advisory firms, but that all firms can learn how to harness technology to offer innovative service. The "2017 InvestmentNews Adviser Technology Study" details how independent advisory firms are approaching the quickly evolving robo-advice technologies at their businesses.


What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video


The #MeToo movement and the financial advice industry

Attendees at the Women to Watch luncheon commend the #MeToo movement for raising awareness about the issue of sexual harassment and bringing women together.

Latest news & opinion

Stocks plunge, advisers tell clients to hang tight

Though planners encourage calm, some are preparing investors for a correction.

Lightyear Capital's Donald Marron said to be in the hunt for Cetera Financial Group

The veteran brokerage executive, who bought Advisor Group in 2016, owned Cetera once before.

What to watch for next with the DOL fiduciary rule

Much hinges on whether the Labor Department appeals the 5th Circuit decision by April 30.

Social Security benefits losing buying power

Low inflation combined with rising Medicare costs threaten the adequacy of seniors' income.

Finra looks to streamline broker-dealer exams

CEO Robert Cook says three examination teams may be consolidated.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print