Wells Fargo Wealth & Investment Management (WIM) recently announced the relaunch of Intuitive Investor, its digitally automated investing platform.
Investors can now “access the robo-advisory platform with only a minimum $500 investment.”
Michelle Moore, head of Digital for Consumer and WIM at Wells Fargo, said:
“We have simplified the Intuitive Investor platform to create a faster and better experience for both new and experienced investors. The minimum investment is now just $500, while the portfolios underpinning the platform are built by the Wells Fargo Investment Institute (WFII), including a new set of sustainability-focused portfolios. Investors can quickly find portfolio choices important to them.”
Additional enhancements include:
- Investment choice: In addition to globally diversified portfolios, Intuitive Investor now enables clients to choose from new sustainability-focused portfolios that are influenced by Environmental, Social & Governance (ESG) factors. A study* found that 82% of millennials are interested in having some money in sustainable investments, and about half of baby boomers and Generation Xers expressed interest as well.
- Significantly lower account minimums: A new $500 minimum investment is down from $5,000.
- Simplified account opening: Clients can open an account via a streamlined mobile experience.
Today’s Intuitive Investor platform “is another example of Wells Fargo’s strategy to transform digital personal finance.”
Moore added:
“With Intuitive Investor we are delivering a digital experience that makes investing easy and automated. We’re committed to simplifying the digital investing experience for our clients and Intuitive Investor is an important step.”
As clarified in the update, Investment and Insurance Products are:
- Not Insured by the FDIC or Any Federal Government Agency
- Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
- Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
- Backed by Wells Fargo Investment Institute, Intuitive Investor is an automated investing platform that makes it easy and convenient for clients to invest where they bank. With just a few questions, the platform suggests a portfolio for users and the Intuitive Investor smart technology automatically monitors the account daily and rebalances assets as needed. Intuitive Investor is managed at a 0.35%** annual advisory fee, plus fund related expenses.
An investment’s social policy “could cause it to forgo opportunities to gain exposure to certain industries, companies, sectors or regions of the economy which could cause it to underperform similar investments that do not operate under a social policy.”
Risks associated with investing in ESG-related strategies can also “include a lack of consistency in approach and a lack of transparency in manager methodologies.”
A socially responsible investing style “may shift in and out of favor.”
There are many factors “to take into consideration when choosing an investment portfolio and ESG data is only one component to potentially consider.”
Intuitive Investor® accounts “are offered through Wells Fargo Clearing Services, LLC.”
Wells Fargo Investment Institute, Inc. is “a registered investment adviser and wholly-owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.”