Fidelity Investments, one of the largest fund managers in the world, says it has built a virtual robo investing platform to help its clients make money from investments.
The platform has a team of experts, including former hedge fund executives, who are responsible for identifying opportunities, managing portfolio risk and advising clients on portfolio decisions, according to a release on the company’s website.
The firm has more than $3 billion in assets under management, according the release.
Fidelity Investments is one of a handful of financial firms that have been experimenting with robo investment platforms.
Others include Wells Fargo, and Vanguard.
But the company says it’s targeting a market where the vast majority of customers are not investors.
The company has created a virtual investment account, called a Robo-Advisor, that allows investors to invest their money into a portfolio.
For $100, Robo-Advocate allows investors who want to access the investment management system to register for a free account.
For the next two months, RoboAdvisor will track the performance of the investment portfolio and send an email to the investor when the funds are earning returns that are consistent with what a regular investor would get.
Investors can also access other financial tools, including automatic rebalancing, portfolio tracking, and investment portfolio optimization, the company said.
RoboAdvisors are similar to a mutual fund.
Investors typically have to invest in a fund through an investment advisor to earn a return.
Fidelity, the only company that offers robo investments, says the Robo-advocate system will help investors better manage risk and focus on making the right investments.