The service, which will be launched as a pilot program for customers in June, will require a minimum investment of $10,000 and charge 50 basis points
Wells Fargo Advisors revealed details of its plans to launch a robo-adviser in a filing with the Securities and Exchange Commission on Monday. The service will require a minimum investment of $10,000 and charge a 50 basis point fee, the firm said in a filing of its ADV registration documents for the digital service. The fee also includes access to financial advisers as needed via phone support. The service, known as Intuitive Investor, will target younger clients who don't have an investment relationship with Wells Fargo Advisors, the firm said in announcement last year.