New York – Citi today is introducing Citi Wealth Builder, an easy-to-use, low-cost digital investing platform with professionally managed portfolios that, in a matter of minutes, helps new and existing customers get on track and stay on track to meet their retirement goals.
Citi customers can start using the new digital platform with a low initial investment of $1,500 and no advisory fees for Citi Priority and Citigold clients on their initial portfolio*. Additional accounts have a low advisory fee of 0.55%.
"Citi Wealth Builder makes it easy for clients to start investing so they can reach the next level of their financial journey," said John Cummings, Head of Citi U.S. Consumer Wealth Management. "It's part of Citi's holistic approach to banking and wealth management. In just a few minutes, customers can start building a solid foundation for years to come."
Citi Wealth Builder quickly matches customers to one of six portfolios based on their responses to questions ranging from their level of comfort with market volatility to their retirement goals and how much they've saved to date. Customers can adjust their investment levels with a real-time view of how those changes may affect their goals.
Once the account is open, Citi Wealth Builder takes it from there, monitoring and automatically rebalancing diversified ETF portfolios designed and managed by investment experts. Customers may follow their accounts online or in the Citi Mobile App, with live support available 24/7.
The new digital advisory tool is powered by Jemstep, a subsidiary of Invesco.
"Jemstep is proud to partner with Citi to provide personalized, goal-based wealth advice to their clients," said Simon Roy, President and CEO of Jemstep. "We have worked closely with Citi to configure the Jemstep digital advice platform to provide a compelling client experience that supports Citi's unique value proposition, omni-channel delivery capabilities and robust operational and compliance requirements."
The launch of Citi Wealth Builder follows a number of enhanced client offerings, including commission-free trading for ETFs and new-issue U.S. Treasury purchases for Citigold clients, as well as the introduction of Citi Wealth Advisor, a financial plan that provides Citigold clients with a dedicated relationship team to create personalized financial roadmaps designed to grow their wealth.
Existing Citibank customers already enjoy access to the country's largest fee-free ATM network with more than 66,000 locations nationwide that may be found in the Citi ATM Locator in the Citi Mobile® app or using the Citibank Online ATM/Branch Locator.
To open an account or find more information, please visit the Citi Wealth Builder website.
* Citi Wealth Builder is an offering from Citigroup Global Markets Inc. to its Citi Personal Wealth Management clients. Underlying ETF management fees range from 0.18 – 0.24%.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
As a Citigold client, you can receive banking and lending services, including The Citigold Account Package, from Citibank, N.A. ("Citibank"), Member FDIC and Equal Housing Lender NMLS# 412915, along with financial planning and investment products as a client of Citi Personal Wealth Management, a business of Citigroup Inc., that offers investment guidance, products, and services through Citigroup Global Markets Inc. ("CGMI"), member SIPC. Citigroup Life Agency LLC ("CLA") offers insurance products. In California, CLA does business as Citigroup Life Insurance Agency, LLC (license number 0G56746). Citigold Relationship Managers are employees of Citibank and are employees and registered representatives of CGMI. Citibank, CGMI, and CLA are affiliated companies under the common control of Citigroup.
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