Charles Schwab Introduces Its Robo-Advisor: Is This The Next Big Thing In Investing?

This announcement comes in the wake of various online-investment advisers and digital investment advisers that have sprung up and led large brokerage firms such as Schwab, Ameritrade and Fidelity to respond. Schwab plans to introduce the Schwab Intelligent Portfolios by Q1 2015 to offer exchange trading funds to customers for comparatively low fees. The brokerage also intends to keep a lower minimum balance (as low as $5,000) as an eligibility criteria for this algorithm-based service.