When Wells Fargo reported earnings last week it stated its developing technology for its advisory business, including an automated investment tool. The company said the new tool would be used by clients to make investments in a variety of asset classes, such as stocks, bonds, real estate, and commodities.
When Wells Fargo reported earnings last week it stated its developing technology for its advisory business, including an automated investment tool. Many of the parts exist within its existing infrastructure, the challenge it sees is making it work for the $500 investor and the $50 million investor, but it sees the robo advisor approach as an efficient way to deliver asset allocation and diversification.