TD Bank launched its first robo-advisor, TD Automated Investing, and hybrid advisor, TD Automated Investing Plus, on Oct. 18, helping to meet the growing demands for individualized financial advice and investment solutions.
Clients can use both platforms to access the seven globally diversified portfolios of exchange traded funds and mutual funds designed by TD Wealth‘s investment professionals dubbed TD Strategic Portfolios, as well as automated monitoring and rebalancing.
“With the introduction of TD Automated Investing and TD Automated Investing Plus, TD will now be able to engage earlier in the Customer’s wealth journey on their terms, combining the best of digital with an unexpectedly human approach,” said Peter Mottek, executive vice president and head of U.S. Wealth, in a statement. “The foundation of all of our Wealth offerings at TD goes beyond a transparent and thorough conversation. It begins by understanding what matters most to every customer, today and in the future.”
TD Automated Investing is an affordable digital advisory service aligns a client’s risk profiles with one of U.S. Wealth’s professionally managed portfolios; and keeps their portfolio aligned to their risk profile through automated monitoring and rebalancing. A customer can open an account with $5,000 or more, and with an annual advisory fee of 0.30% with a $75 minimum.
TD Automated Investing Plus offers the same features as TD Automated Investing with additional access to a centralized advisory team for ongoing advice. An account can be opened with a minimum of $25,000 with an annual advisory fee of 0.60% with a $250 minimum.
Expanding Financial Advisor Presence from Maine to Florida
In addition to its new automated investment portfolio offerings, TD has expanded its team of licensed and trained financial advisors by more than 100, and the company plans to add 350 additional advisors in the coming years.
“We are unequivocally committed to elevating financial and investment advice across the entire bank,” said Ernie Diaz, head of U.S. consumer distribution, wealth and TD auto finance for the bank. “These new products and offerings, grounded in upfront planning, prioritization and uniformity, will help TD meet the needs of our clients and colleagues.”