Charles Schwab Unveils Free “Robo Advice”

The Charles Schwab Corp (NYSE:SCHW) disclosed on Monday, October 27th that a new online advisory platform to be marketed as Schwab Intelligent Portfolios would debut in the first quarter of 2015. By foregoing management and transaction fees, Schwab intends to be “disruptive” to competitors. Investment allocation by a Charles Schwab computer algorithm In a statement, Charles Schwab Corp (NYSE:SCHW) disclosed with as little as $5,000, investors will be able to open individual, joint, IRA and revocable living trust accounts that offer technology-driven automated portfolios. The proposed service would facilitate investors with diversified portfolios using Schwab and third party low-cost exchange traded…