TD Bank to offer robo-adviser

The bank is strengthening its investment advice offerings by adding both a robo-adviser and a hybrid adviser.

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.

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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]

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