TIAA has announced the launch of TIAA Personal Portfolio, a new online, professionally managed account.
The new online service offers a range of investment options, including passive, active and socially responsible, with five different risk levels ranging from conservative to aggressive:
- Basic: A passive investment strategy comprised of a mix of low-cost index funds and ETFs that track the market
- Insight: An active investment approach comprised of funds that seek to outperform the market over the long term
- Impact: An active investment strategy that prioritizes funds that meet socially responsible investing criteria without sacrificing returns
TIAA Personal Portfolio uses a “goal-oriented” approach to help customers address specific savings and investing targets. According to a press release, customers can establish an account in less than 10 minutes, by inputting their financial objectives and risk levels. They receive personalized portfolio recommendations, down to the specific fund, before financing their account.
TIAA Personal Portfolio includes:
- Access to professionals to provide more extensive support, when and if it’s wanted
- Automatic rebalancing and daily account oversight to help keep investment strategy on track
- The service requires a minimum account balance of $5,000, and has annual advisory fees of 0.3%
