Wells Fargo Advisors has cut minimums to $5,000 from $10,000 on its Intuitive Investor automated platform and also reduced fees.
The company cut its annual advisory fee for the platform from 0.50% to 0.35%, and that can be reduced to 0.30% for clients who also have a premium Wells Fargo checking account.
Launched in 2017, the bank’s automated investing platform comes with access to a financial adviser. After investors' risk tolerance and time horizon have been determined, they are placed in one of nine portfolios managed by the bank’s investment advisory arm and receive monitoring and automated rebalancing.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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