SAN JOSE, Calif.— Tech Financial Management, a CUSO of Technology Credit Union, has launched Guided Wealth Portfolios through a partnership with LPL Financial.
The credit union said the new service is designed to provide consumers with affordable, automated digital investment capabilities.
“Our goal is to improve our members’ financial well-being and make investing more accessible,” said Todd Harris, CEO of Tech CU. “That is why we have paired our robo-advising service with access to a financial advisor as soon as someone chooses to open an account. Users receive access to someone who can help guide them and ensure they are investing appropriately to meet their goals. It is also why we have a lower required opening balance than similar services that often require a high initial investment amount before receiving access to an advisor.”
What’s Available
According to the credit union, the Guided Wealth Portfolios (GWP) provide:
* Automated investing technology with 24/7 online access
* Access to personalized financial advice from an experienced financial advisor
* Daily monitoring, automatic rebalancing, and potential tax savings
To get started, First Tech said users will answer a few questions online about themselves, their goals, and their investing style. “Then GWP’s sophisticated technology will suggest an investment strategy and manage their money accordingly. It will continue making adjustments as needed to keep their finances on track,” it added.
The starting balance for opening a GWP account is $5,000. There is a 0.50% annual maintenance fee. For those who sign up by Sept. 30, 2020, Tech Financial Management said it will provide a credit to reduce quarterly account maintenance fees from .50% to .35% through March 31, 2021.
The $3-billion Tech CU has more than 125,000 members.