TD Bank, whose corporate parent once owned 40% of TD Ameritrade, is launching its first robo-adviser, TD Automated Investing, and a hybrid adviser, TD Automated Investing Plus.
Both offerings provide clients with access to seven globally diversified portfolios of exchange-traded funds and mutual funds that were designed by TD Wealth's investment professionals to help meet differing risk profiles and financial goals — as well as automated monitoring and rebalancing, the company said in a release.
TD Automated Plus also provides access to a centralized advisory team. The bank has more than 100 registered representatives at its branches.
Account minimums for the robo are $5,000, with an annual advisory fee of 0.30% with a $75 minimum. The minimum for TD Automated Investing Plus is $25,000, with an annual advisory fee of 0.60% with a $250 minimum.
TD Bank is the U.S. unit of Toronto-based Toronto-Dominion Bank.
[More: 5 largest robo-advisers by AUM]
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
