Citigroup unveils free robo-advisor for customers with at least $50,000 at the bank

  • Citigroup is making a push for investors’ dollars with a new digital robo-advisor that’s free for customers with at least $50,000 in deposits or investments at the bank.
  • That’s the threshold needed to qualify for the bank’s Citi Priority bundle of banking services, which will soon include access to an automated investing program, according to documents viewed by CNBC.
  • Users answer a few questions related to risk appetite and investing timelines, and the software puts them into a premade portfolio of ETFs.

Citigroup is making a push for investors’ dollars with a new digital robo-advisor that’s free for customers with at least $50,000 in deposits or investments at the bank.

That’s the threshold needed to qualify for the bank’s Citi Priority bundle of banking services, which will soon include access to an automated investing program, according to documents viewed by CNBC.

The program works like most robo-advisors: Users answer a few questions related to risk appetite and investing timelines, and the software puts them into a premade portfolio of investments. Customers with Citi Priority or higher status can use the program, called Citi Wealth Builder, for one free portfolio; those who don’t qualify are charged a fee of 0.55% of assets under management.

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