Professionally managed, automated, online investing
Offers highly personalized portfolios, including active, passive and socially responsible investing Fast, simple and flexible online managed account gives users the opportunity to preview investment recommendations before funding their accounts
NEW YORK (June 6, 2017) – TIAA, a leading financial services provider, today announced the launch of TIAA Personal Portfolio, a new online, professionally managed account. The service is designed for investors who want a convenient, simple and personalized way to help them reach their financial goals.
It also gives customers access to TIAA’s team of professionals who can provide education and support along the way, as they need it.
“At TIAA, we recognize that there is no ‘one-size-fits-all’ when it comes to personal finances, and we work every day to offer our customers financial services that fit their lives,” said Kathie Andrade, chief executive officer of TIAA’s Retail Financial Services business. “With the launch of TIAA Personal Portfolio, we are expanding the reach of our personalized financial support to more people, including younger generations, and those who value working with a mission-based organization. It is a great option for customers who would simply prefer to receive advice from us digitally.”
A Broad Range of Investment Options
The new online service offers a broad range of investment options, including passive, active and socially responsible, with five different risk levels, ranging from conservative to aggressive. Each is backed by experienced investment professionals who manage the portfolios, provide ongoing oversight and rebalance as needed.
- 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 is the first major online managed account provider to offer customers socially responsible investing, along with traditional investment options. TIAA is a pioneer in socially responsible investing and has offered SRI funds to customers since 1990.
TIAA Personal Portfolio uses a simple “goal-oriented” approach to help customers address specific savings and investing targets. Customers can establish an account in less than ten minutes, by inputting their financial objectives and risk levels. They receive personalized portfolio recommendations, down to the specific fund, before financing their account.
“We thought carefully about the customer experience and designed the interface to help our customers invest with ease and complete transparency in how their money will be invested,” said Scott Blandford, executive vice president and chief digital officer at TIAA. “And while we offer a broad range of investment choices, we do it in an intuitive way that guides customers to the option that’s best suited for them.”
TIAA Personal Portfolio adds to TIAA’s expansive digital customer experience and is optimized for mobile and desktop to provide convenient, online account access anytime, anywhere.
TIAA Personal Portfolio offers:
- Professional investment management, including asset allocation and ongoing strategy research, resulting in an investment portfolio aligned to individual goals, risk tolerance and investing preferences
- 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
- Account summary and detailed reporting to track progress towards goals and investment performance
- Convenient online account setup and performance management optimized for mobile
- A minimum account balance of $5,000, the flexibility to continue to invest any amount you choose at any time, and annual advisory fees at 0.3 percent
This offering expands on TIAA’s personalized investment services and other managed accounts. The organization also offers in-person financial services at more than 160 offices across the country in addition to phone representatives who are licensed, registered and trained to provide advice.
“Nearly 100 years ago, TIAA started a whole new industry and today we continue that tradition of innovation. We’re focused on enabling our customers to stay connected and manage their finances anytime, anywhere and in the way they want,” said Andrade.
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About TIAA
TIAA (tiaa.org) is a leading provider of financial services in the academic, research, medical, cultural and government fields and has an award-winning1 track record for consistent performance. TIAA has $938 billion in assets under management2 (as of 3/31/2017). It offers a wide range of financial services, including investing, banking, advice and education, and retirement services.
TIAA Personal Portfolio services provide discretionary investment management services for a fee.
TIAA Personal Portfolio services are offered through Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser. Brokerage services are provided by TIAA-CREF Brokerage Services, a division of TIAA-CREF Individual & Institutional Services, LLC, distributor, member FINRA/SIPC. Brokerage accounts are carried by Pershing, LLC, a subsidiary of the The Bank of New York Company, Inc. Member FINRA, NYSE, SIPC.
