Wells Fargo Advisors promoted an insider to lead its new robo advice platform, Intuitive Investor, the company announced.
Automated investing platforms are making it tougher to charge for some financial advice, says Tiburon Strategic Advisors.
Eddie Queen’s main task as head of digital and automated investing is to deliver on Well Fargo’s
“Shifting consumer preferences and changing demographics are leading us to rethink how we deliver advice to clients, including those who may be investing for the first time,” David Kowach, president of Wells Fargo Advisors, said in a statement.
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David Kowach oversaw approximately 11,000 advisers as head of the Private Client Group.
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Queen previously served as the bank's director of Digital Investment and head of strategy. Prior to Wells Fargo, he worked at Citi and Smith Barney.
Queen will also be overseeing Wells Fargo “do-it-yourself” online investment portfolio builder, WellsTrade, in addition to the digital advice platform, a spokeswoman says.
The robo platform is being
Wells Fargo's announcement comes as more firms ramp up efforts to roll out digital advice platforms, either as standalone robos or so-called hybrid models. Raymond James
