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

Featured video


Retirement: it's no longer about feeding pigeons from a park bench.

Today's retiree's expect so much from retirement than previous generations and advisers are in prime position to help their clients what's important and what's not.

Latest news & opinion

CFA Institute adding crypto, blockchain to curriculum

Subjects will be added to its Level I and II coursework for the first time next year.

Trump tax plan making dividend ETFs hot

Funds that are seeing inflows largely steer clear of sectors like utilities.

Wells Fargo Advisors continues to see a decline in brokers

Company also set aside $114 million over fees for rich clients.

Morningstar to replace funds in its managed portfolios with nine of its own

New sub-advised funds, offered exclusively through financial advisers, are intended to lower costs and provide 'greater flexibility.'

Average client assets top $2 million for first time

Charles Schwab's latest RIA Benchmarking Study reports organic growth is driving increased AUM and revenues.


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