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Industry Spotlight > Wirehouse Firms

Wells Fargo Robo Pilot Set for Summer; Rollout for Late 2017

By Janet Levaux

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Wells Fargo Advisors shared more details about its anticipated robo-advisor platform with employees on Monday.

Intuitive Investor aims to position the wealth unit “in front of a new type of investor,” according to a memo.

While the broad launch is set to for the second half of 2017, some employees will be part of a pilot launch earlier in the year; plus, a client pilot “is scheduled for the summer,” the memo says.

Wells Fargo is positioning Intuitive Investor to “live between” its WellsTrade online platform and its full-service model, “acting as an important stepping stone for individuals who want to invest in their future using a convenient method that blends technology with access to human advice,” the bank explains.

It also aims for next-generation investors to have easy access and integration with banking services.

SigFig

Last year, Wells Fargo Advisors announced plans to partner with the tech firm SigFig to develop a robo offering. This news came several months after UBS’ wealth management group in the Americas formed a deal with SigFig to work on different digital tools for its reps and advisory business.

At the time of the announcement, Wells Fargo said the partnership should help it offer clients “tailored portfolios” online and a service for “emerging investors who want trusted investment advice and a holistic financial experience in the digital space,” it says.

(Wells Fargo’s roughly 15,000 advisors and 3,900 licensed bankers have some $1.5 trillion in client assets.)

“Given the scale of Wells Fargo, this partnership will help SigFig continue to significantly expand our mission of providing high-quality investment advice to investors of all wealth and income levels,” explained SigFig CEO Mike Sha, in a statement at the time.

— Check out eMoney Advisor Unveils Virtual Reality, Optimized Marketing Tools on ThinkAdvisor.

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