E-Trade has expanded its advice offerings with the addition of actively managed portfolios of non-proprietary mutual funds or exchange-traded funds. They will have a minimum investment threshold of $25,000 and offer a wide range of investment styles from conservative to aggressive growth. The service, residing on PNC Managed Investments’ [PNC] platform, will also be automatically rebalanced to ensure proper diversification.
“As a result of the volatile markets, investors are looking for easy access to ongoing, high-quality advice that won’t chip away at their investments gains,” said Michael Curcio, president of E-Trade Capital Management [ETFC]. “They want to know that someone is watching out for their nest egg and working to ensure their portfolio stays balanced to help them reach their long-term investing goals.”
The process begins with an investment professional conducting a complimentary goals assessment, either in person or over the phone, to lay out the customer’s goals, risk tolerance and time horizon. Next, E-Trade’s investment team determines a personalized asset allocation strategy and then selects high-quality investments.
“Managed Investment Portfolios are a key milestone in the evolution of our business strategy to focus on attracting mass affluent investors while gaining a greater share of our customers’ investable assets,” Curcio added.