In the first quarter of 2015, Charles Schwab & Co. plans to launch their own robo-advisor platform for retail investors. The platform will be called Schwab Intelligent Portfolios.
The platform will feature portfolios of ETF’s selected by Schwab. The portfolios will be selected from ETF’s representing as many as 20 distinct asset classes. According to Walt Bettinger, President and CEO of Charles Schwab & Co., Schwab will go through an objective, institutional screening process to select investments that is more sophisticated than anything currently available to retail investors through other similar offerings. Eligible ETF’s will not be limited to Schwab ETF’s and ETF OneSource participants. Tax loss harvesting will be included in the offering for accounts with at least $50,000 in assets.
