TD Bank Strengthens Investment Advice Offerings with Launch of Robo-Advisor

Rhea-AI Summary

TD Bank has introduced its first robo-advisor, TD Automated Investing, along with a hybrid advisor, TD Automated Investing Plus, to cater to increasing demand for personalized financial advice. Both services offer access to TD Strategic Portfolios, which are diversified ETF and mutual fund investments tailored to clients' risk profiles. TD Automated Investing requires a $5,000 minimum with a 0.30% advisory fee, while TD Automated Investing Plus starts at $25,000 with a 0.60% fee. The bank also plans to expand its financial advisor team by 350 in the coming years.

Positive

• Launch of TD Automated Investing and TD Automated Investing Plus enhances client access to personalized financial advice.
• Affordable entry points with $5,000 and $25,000 for advisory services broaden service accessibility.
• Plans to increase financial advisors by 350 positions strengthen the bank's service capacity.
• Automated monitoring and rebalancing features provide ongoing portfolio alignment for clients.

Negative

• None.

CHERRY HILL, N.J. and NEW YORK, Oct. 18, 2021 /PRNewswire/ -- Today, TD Bank announced it has launched the Bank's first robo-advisor, TD Automated Investing, and hybrid advisor, TD Automated Investing Plus, helping TD to further meet the growing demands for individualized financial advice and investment solutions across all client segments.

Both offerings provide clients access to TD Strategic Portfolios – seven globally diversified portfolios of exchange traded funds (ETFs) and mutual funds designed by TD Wealth's investment professionals to help meet differing risk profiles and financial goals - 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," says Peter Mottek, EVP, Head of U.S. Wealth. "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 and TD Automated Investing Plus

TD Automated Investing is an affordable digital advisory offering that aligns the client's risk profiles with one of U.S. Wealth's professionally managed portfolios leveraging an end-to-end digital account opening process. Clients also get peace of mind, through automated monitoring and rebalancing, that their portfolio is always aligned to their risk profile. A customer can open an account with as little as $5,000 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 to assist with building a personalized financial plan and ongoing advice. It requires 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 now has more than 100 licensed and trained financial advisors (FAs) in Stores across the footprint, with plans to add 350 additional advisors in the coming years.

TD is steadfast in its commitment to providing financial advice, goals-based planning, and customized solutions to its customers, regardless of asset size or where they are in their financial journey. With the continued expansion of in-house FAs, a growing number of relationship managers (RMs) serving the high-net worth client segment, and the introduction of automated, managed solutions (TD Automated Investing and TD Automated Investing Plus), TD Bank and TD Wealth are better positioned to provide Customers across the footprint the customized financial solutions they need to help meet their goals through various life stages. 

"We are unequivocally committed to elevating financial and investment advice across the entire Bank," says Ernie Diaz, Head of U.S. Consumer Distribution, Wealth and TD Auto Finance for TD Bank. "These new products and offerings, grounded in upfront planning, prioritization and uniformity, will help TD meet the needs of our clients and colleagues."

To learn more about TD Wealth and its offerings at http://www.tdbank.com/investments.

About TD Bank, America's Most Convenient Bank^®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.6 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth^®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.

About TD Wealth

Through TD Bank N.A.,TD Wealth's Private Client Group and its affiliates work with mass affluent and high net worth individuals and institutions to help build, preserve and transition wealth. TD Wealth is committed to helping personal investors, institutional and non-profit organizations gather and potentially grow their assets by building long-lasting relationships, and is affiliated with one of the 10 largest financial institutions in the U.S., TD Bank, America's Most Convenient Bank®. From private banking, securities, investment advisory services, private trust, and estate planning, to institutional trust, including retirement planning, captive insurance and trustee services, TD Wealth creates and delivers customized and integrated wealth management solutions. Banking, investment and trust services are available through TD Bank. Securities and investment advisory products are available through TD Private Client Wealth LLC, member FINRA/SIPC (TDPCW).TD Wealth is a service mark of The Toronto-Dominion Bank. For more information, visit http://www.tdbank.com/investments.

TD Wealth is not a tax or legal advisor. You must consult with your own tax and legal advisors for specific advice pertaining to your estate planning needs.

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SOURCE TD Bank

FAQ

What is TD Bank's new robo-advisor?

TD Bank has launched TD Automated Investing and TD Automated Investing Plus to meet the demand for individualized financial advice.

What are the minimum requirements for TD Automated Investing?

Clients can open an account with a minimum investment of $5,000 and a 0.30% annual advisory fee.

How does TD Automated Investing Plus differ from TD Automated Investing?

TD Automated Investing Plus offers additional access to a centralized advisory team, requiring a minimum of $25,000 with a 0.60% advisory fee.

How many financial advisors does TD Bank plan to add?

TD Bank plans to add 350 additional financial advisors in the coming years.

What is included in TD's Strategic Portfolios?

TD's Strategic Portfolios consist of seven globally diversified portfolios of ETFs and mutual funds designed to align with varying client risk profiles.