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.
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