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.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
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
