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Schwab to Launch Robo-advisor in Early 2015

Submitted by Technology Tools for Today on October 27th, 2014


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.

Schwab Intelligent Portfolios addresses a growing demand for affordable, objective, sophisticated and convenient investment advice”, said Bettinger. The service alters the investing landscape by combining innovative technology with proven approaches to advice and the support only people can provide, all without charging program management fees or commissions, while using low cost exchange traded funds.

With as little as $5,000, investors will be able to open individual, joint, IRA and revocable trust accounts that offer technology driven automated portfolios and a modern, streamlined client experience designed for ease and efficiency. The platform will be accessible via the web and via smartphone apps. Live help from investment professionals will be available 24 hours a day, seven days a week, 365 days a year.

Following the launch of the retail platform, Schwab plans to offer a customized, while label version of the platform to advisors who custody assets at Schwab Advisory Services. No further details on the advisor offering are available at this time. For further information on the retail offering, visit www.intelligent.schwab.com.

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