Wells Fargo Intuitive Investor Review 2024 (2024)

Our Take

Wells Fargo Intuitive Investor is a streamlined, no-frills platform to put your investing on autopilot, with a low account minimum of only $500 and a flat-rate fee structure of 0.35% of the account balance. Investors selecting their portfolio will find several options ranging from conservative, moderate, and aggressive to meet their investing style. This type of account may appeal to newer investors with a lower account balance, as they can open an account without meeting the minimum opening requirements. However, investors will have six months to ensure their account complies with the Well Fargos account minimums. We’ll take an in-depth look at the pros, cons, and features of Intuitive Investor to help you decide if this robo-advisor is right for your investing goals.

Pros & Cons

Account Setup

Setting up an account with Wells Fargo Intuitive Investor is quick and easy, and can be done completely online. With a minimum investment of only $500, investors can start working toward their investing goals right away. You may start the account setup process with less, but any cash or transferred securities won’t be invested until your balance reaches $500, and you have 180 days to reach the minimum.

During account setup, you will walk through an investing questionnaire regarding goals and risk tolerance. Based on these answers, Wells Fargo Intuitive Investor will suggest a portfolio for you. While this portfolio is viewable prior to funding, portfolios are not customizable beyond changing your investment style from Globally Diversified to Sustainability Focused or vice versa. This can be done at any time, by following these steps:

1. Log in to your Intuitive Investor account.
2. Select Review & Edit Investment Profile from the “I would like to” dropdown menu.
3. Follow the instructions to change your investment style.

However, if you do have any questions regarding the online breakdown of asset classes and individual funds that are in your recommended portfolio, you can call a financial advisor at 1-855-360-4407 (Monday through Friday, 8 a.m. to 8 p.m. ET).

Investors are able to choose from these brokerage account types:

• Individual
• Joint
• Trust
• Custodial (UGMA/UTMA)
• Roth or traditional IRA
• SEP IRA
• Inherited Roth or traditional IRA

Goal Planning

Investors who want to be more active with their portfolios will find that there are no planning tools specific to the Intuitive Investor service. However, Wells Fargo does offer several financial planning tools on its website:

• Credit Close Up: Free monthly access to credit score updates
• Mortgage Affordability Calculator: Estimate a monthly mortgage payment based on your income, monthly debt, down payment, etc.
• Mortgage Rate Calculator: Find your estimated rate for buying a home, refinancing an existing mortgage, or getting cash out
• Debt-to-Income Ratio Calculator: Estimate your DTI
• Account Alerts: Get notified of low account balance, recent deposits, upcoming payments due, or recent log-on activity
• My Spending Report: Track account spending
• My Savings Plan: Create a savings plan, set up automatic transfers, track progress to goal
• Budget Watch: Chart monthly expenses
• My Retirement Plan Savings Calculator: Chart savings toward retirement goal
• Debt Consolidation Calculator: Calculate the benefit of consolidating existing debts into a fixed-rate loan

Account Services

Account offerings for investing with Intuitive Investor are quite limited, with ETFs in only two categories: Globally Diversified and Sustainability Focused. If you are an investor looking to invest in REITs, crypto, forex, individual stocks, self-driven trading, or trading on margin, Intuitive Investor is not for you.

Intuitive Investor does offer auto cash sweeps, though, so your cash can earn an interest rate that is currently undisclosed by the company.

One major advantage of opening an account with Wells Fargo is that it offers a robust lineup of banking services to all clients. These include:

• Savings and CDs
• Checking
• Home loans
• Personal loans
• Auto loans
• Credit cards
• Small business solutions

Cash Management

Intuitive Investor offers a feature, Brokerage Cash Services, which allows clients to easily transfer money and make deposits. These funds are then invested into your Intuitive Investor portfolio.

Clients with an Intuitive Investor account can:

• Transfer money between Wells Fargo accounts
• Make deposits at any Wells Fargo Bank branch
• Deposit checks via the Wells Fargo mobile app
• Send and receive money with Zelle transfer service
• Send money through an automated clearing house (ACH) or wire transactions

Portfolio Construction

Wells Fargo Intuitive Investor’s position on this investment strategy is that by merging Smart Beta and traditional lower-cost ETFs within the overall asset allocation strategy, client portfolios will be improved by diversification and can potentially advance better long-term investment outcomes.

Wells Fargo offers a very streamlined service with its robo-advisor. It's important to note that Investors looking for a more complex position in cryptocurrency or Spot Bitcoin ETFs won't find what they are looking for with this robo-advisor. As of February 2024, Wells Fargo has not added those types of positions to its robo-advisor service.

Portfolio Customization

Portfolio customization is limited for clients investing with Intuitive Investor, as it only offers two investment styles. This allows investors to switch from Globally Diversified to Sustainability Focused or vice versa. Whichever you choose, your suggested portfolio will be comprised of seven to 11 exchange-traded funds (ETFs), which have been selected to meet your optimal asset allocation and predetermined portfolio objective.

Intuitive Investor customizes the mix of ETFs suggested for your portfolio based on your questionnaire answers provided during account setup. Portfolio allocations are based on your:

• Investment objective
• Time horizon
• Risk tolerance

Portfolio Management

Intuitive Investor monitors your portfolio daily, and portfolio rebalancing takes place as often as necessary to preserve your portfolio’s target asset allocation. Account rebalancing is included in your annual advisory fee. The only time this automatic rebalancing stops is if your account balance drops below $100—whether through market declines or withdrawals. If your balance remains below $100 for 30 days after the end of the calendar quarter, Wells Fargo eliminates your account’s advisory features and converts it into a WellsTrade self-directed brokerage account.

Tax-loss harvesting is an optional service offered within qualified Intuitive Investor accounts, and is included within the annual advisory fee of 0.35%. This strategy meticulously sells funds that have dropped in value in an attempt to offset any taxable gains with realized losses, while keeping your portfolio’s asset allocation and risk level intact. While Intuitive Investor looks for opportunities to harvest losses each day the markets are open, tax-loss harvesting will not occur unless the loss is at least 1% of your portfolio value and over $500. Only individual and joint taxable accounts are eligible for tax-loss harvesting.

Another notable account feature with Intuitive Investor is the use of fractional shares. Intuitive Investor may use fractional shares to guarantee your portfolio maintains close alignment to your portfolio's asset allocation.

User Experience

Desktop

Wells Fargo offers a user-friendly desktop experience. There are several calculators and tools that can be accessed via the desktop website. However, they are not specific to the Intuitive Investor account.

Mobile

Wells Fargo offers iOS and Android mobile apps for Intuitive Investor accounts, as well as all other Wells Fargo clients. There are three ways to access the app:

• Download the app from the App store or Google Play
• Scan the QR code on the Wells Fargo website
• Send a text to 93557 and you’ll receive a link to download the app; text IPH for Apple or AND for Android

Features of the mobile banking app include:

• Manage your account(s): Monitor balances and transactions, set up account alerts, open new accounts
  
• Transfer or send money: Send money with Zelle, transfer money to different Wells Fargo accounts, pay bills
  
• Deposit checks
• Ask questions: Get answers to your banking questions with virtual assistant Ask Fargo (exclusive to the mobile banking app)

Customer Service

Customer service is somewhat limited for Wells Fargo Intuitive Investor clients.

• No online chat or email correspondence is available at this time.
• Investors can reach customer service at 877-879-2495 for online services from 8 a.m. to midnight ET, Monday through Friday.
• Clients can also talk to a licensed financial advisor by calling 866-281-7436 from 8 a.m. to midnight ET, Monday through Friday.

Security

Wells Fargo has several security measures in place to ensure that client account information is kept safe:

• 24/7 fraud monitoring
• Encryption
• Browser requirements
• Automatic signoff
• Require unique username and password
• Two-step verification
• Optional security, such as face ID, fingerprint recognition, or voice verification

Education

Intuitive Investor is a no-frills investing platform. No educational videos or articles are offered to clients. However, a nice advantage of this account type is access to a Wells Fargo financial advisor; clients can receive guidance and get answers to their investing questions for no extra charge.

While no education videos or articles are offered specifically to Intuitive Investor account holders, it is notable that Wells Fargo clients do have general access to education information and tools on the main Wells Fargo website.

Commissions and Fees

While no commissions are charged for a Wells Fargo Intuitive Investor account, there is a yearly advisory fee of 0.35% of your account balance, as well as the expense ratio of the specific investment funds. The yearly advisory fee is assessed quarterly, generally within the first 10 business days of each calendar quarter, based on the account value on the last business day of the prior calendar quarter. Assessed fees are not adjusted for market fluctuations within that quarter.For example:

• $5,000 account balance: Yearly fee $17.50
• $25,000 account balance: Yearly fee $87.50
• $100,000 account balance: Yearly fee $350

There are a few ways to reduce the yearly advisory fee of 0.35%. The fee is:

• 0.30% when the Intuitive Investor account is linked to a Wells Fargo Prime Checking account
• 0.25% when linked to a Wells Fargo Premier Checking or Private Bank Interest Checking account
• Waived for all U.S.-based Wells Fargo employees, spouses, and dependents on existing and new accounts

Estimated expense ratios for the Intuitive Investor portfolio options:

• Globally diversified: 0.07% - 0.14% of asset value
• Sustainability focused (ESG): 0.12% - 0.14% of asset value

Additional fees include:

• Account maintenance: $0
• Minimum account balance: $0
• IRA termination: $49.95
• Outgoing account transfer: $49.95
• Outgoing domestic wire transfer: $30 each
• Outgoing international wire transfer: $40 each
• Outgoing domestic and international wire transfer initiated via online or mobile: $0

The Bottom Line

Intuitive Investor is an easy, low-cost option for new investors or those that don't have a lot to invest. This streamlined, no-frills platform provides a hands-off approach to investing for the novice investor looking to set up an account and just let the investing happen on autopilot. Those looking for a wider variety of investing choices or more customized options should probably look elsewhere. Additionally, the flat-fee structure of 0.35% of account balance is competitive; however, many companies within the robo-advisor space offer flat monthly fees, regardless of account size, or a lower advisory fee percentage, which may make investors—especially those with higher account balances—take a look elsewhere.

What Are the Fees for Wells Fargo Intuitive Investor?

Wells Fargo Intuitive Investor has a reasonable price structure to manage your account. A yearly advisory fee of 0.35% of the account balance is assessed, plus individual fund expense fees ranging from 0.07% to 0.14% of asset value.

What Is the Minimum Balance for Wells Fargo Intuitive Investor?

The minimum balance a client needs to start investing is $500. However, for investors without the required capital, you can still open a Wells Fargo Intuitive Investor account. You will have up to 180 days to come up with the rest of the required money to fund your account.

Is Wells Fargo FDIC Insured?

Yes, Wells Fargo is FDIC insured. However, FDIC insurance only covers specific accounts, like checking and savings accounts, up to $250,000. FDIC insurance does not cover any accounts invested in stocks, bonds, or ETFs; those accounts will fall under the SIPC.

How Safe Is Wells Fargo Intuitive Investor?

Wells Fargo Intuitive Investor implements all of the standard industry security measures to ensure that client information is kept safe:

• 24/7 fraud monitoring
• Encryption
• Browser requirements
• Automatic signoff
• Require unique username and password
• Two-step verification
• Optional security, such as face ID, fingerprint recognition, or voice verification

Who Is the CEO of Wells Fargo?

Wells Fargo has a long-standing history of providing banking services for the United States. The company was founded in 1852 by Henry Wells and William G. Fargo. Today the company is under the leadership of Charles W. Scharf as the CEO and President of Wells Fargo and Company.

How Does Wells Fargo Intuitive Investor Help You Save Money on Taxes?

Wells Fargo Intuitive Investor offers tax-loss harvesting to its customers at no extra charge, but clients who want the service must manually turn it on in their account.This feature looks for opportunities to harvest losses each day the markets are open, with the goal of offsetting any taxable gains in your account with realized losses, all while keeping your portfolio’s asset allocation and risk level intact.

How We Review Robo-Advisors

Providing readers with unbiased, comprehensive reviews of digital wealth management companies, more commonly known as robo-advisors, is a top priority of Investopedia. We used our 2023 consumer survey to guide the research and weightings for our 2024 robo-advisor awards. To collect the data, we sent a digital survey with 64 questions to each of the 21 companies we included in our rubric. Additionally, our team of researchers verified the survey responses and collected any missing data points through online research and conversations with each company directly. The data collection process spanned from Jan. 8, to Feb. 9, 2024.

We then developed a quantitative model that scored each company to rate its performance across nine major categories and 59 criteria to find the best robo-advisors. The score for each company’s overall star rating is a weighted average of the criteria:

• Account Services: 10.00%
• Account Setup: 5.00%
• Customer Service: 5.00%
• Fees: 15.00%
• Goal Planning: 21.00%
• Portfolio Contents: 17.00%
• Portfolio Management: 17.00%
• Security & Education: 5.00%
• User Experience: 5.00%

Additionally, during our 2023 research, many of the companies we reviewed granted our team of expert writers and editors access to live accounts so they could perform hands-on testing.

Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top robo-advisors.

Read more about how we research and review robo-advisors.

Separately, our research team conducted a survey of 205 U.S. adults aged 18 to 72 who are current clients of one of 18 robo-advisors. While the information collected did not influence the development of our ratings model, it was instrumental in gathering the valuable insights published in Investopedia's 2023 Robo-Advisor Consumer Survey.

Participants in our 2023 Robo-Advisor Survey opted-in to an online, self-administered questionnaire from a market research vendor. Data collection took place between Aug. 30, and Sept. 15, 2023, with 11 video interviews conducted with volunteer respondents from Sept. 7, to Sept. 17, 2023. Multiple quality checks, including screeners, attention gauges, comprehension evaluations, and logic metrics, among others, were used to ensure only the highest quality responses were included.