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Charles Schwab launches ETF-based Schwab Intelligent Portfolios

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Charles Schwab has launched a fully automated investment advisory service, Schwab Intelligent Portfolios, an investment advisory service that uses sophisticated computer algorithms to build, monitor, and rebalance diversified portfolios based on an investor’s stated goals.

Schwab Intelligent Portfolios applies the insights of Charles Schwab Investment Advisory (CSIA) experts to algorithms to build and manage client portfolios of low-cost Exchange Traded Funds (ETFs) with up to 20 asset classes, as well as an FDIC-insured cash allocation to manage volatility and risk. Investors with as little as USD5,000 will receive a portfolio recommendation after answering a short set of questions that quickly assess their goals and risk tolerance, and the portfolio is automatically rebalanced as market dynamics change.

“We know there are three controllable variables that have an impact on the long-term success of investors – being and staying invested; having access to quality investment advice and money management; and keeping costs low,” says Schwab executive vice president Naureen Hassan, who leads the team responsible for Schwab Intelligent Portfolios. “Schwab Intelligent Portfolios addresses each of these key components of success. It’s easy for investors to get started and stay invested. It keeps investors’ portfolios on track as markets change without requiring any action on their part and uses advanced technology to create and manage portfolios based on the same sophisticated, time-tested approaches to portfolio management used by institutional investors. It keeps costs down to a new low, while providing access to Schwab investment professionals 24/7/365.”

She noted that fewer than 30 per cent of Americans have consulted a financial professional about savings or investments within the past five years, according to a report by FINRA’s Investor Education Foundation. “Investors are far more likely to succeed if they are getting help, and Schwab Intelligent Portfolios is an easy-to-use, low cost, and high-quality offering designed to get advice and money management to more people, whether they have USD5,000 or USD500,000,” she says.

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