Charles Schwab Merges Man and Machine in New Hybrid Advisory Service

Charles Schwab (NYSE:SCHW) today completed the launch of a hybrid advisory service that combines live financial professionals and algorithm driven technology for investment planning - Schwab Intelligent Advisory. It will provide investors with a financial plan tailored to their situation and goals, ongoing guidance and expertise from planning consultants, and a fully automated diversified portfolio.

“Schwab Intelligent Advisory fully leverages what technology and people can deliver in tandem, focusing on serving clients based on their unique needs while delivering the kind of value they know they can expect from Schwab,” said Neesha Hathi, executive vice president with Schwab Investor Services. “This is a modern approach to financial planning and wealth management that mirrors what today’s consumers have come to expect in other aspects of their lives; how they invest should be no exception.”

“There’s an entire population of self-directed investors who aren’t self-directed by choice – they simply haven’t found an advisory model that works for them yet,” added Hathi. “The barrier might be lack of trust and transparency, cost, complexity or general inertia, but there’s a real need to make financial planning and advice more accessible. Schwab Intelligent Advisory democratizes the process by making it easier and more affordable to build and maintain a plan, stay invested, and access professional guidance along the way.”

The minimum to enroll in Schwab Intelligent Advisory is $25,000, but clients will be able to open additional individual accounts starting from just $5,000. Clients can also activate automated tax loss harvesting for each account starting at $50,000.