TIAA, a national financial services provider, has embraced the robo-advisor and today launched its version of automated, online management services.
The New York City-based company, which has a downtown Denver office and about 1,500 employees there, said it would use robots to help its clients — especially millennials — build their own portfolios online.
And, adding a twist, the company is giving online clients the ability to invest in socially responsible portfolios — something the company has been offering since 1990.
Companies around the globe that built their names on face-to-face contact with financial advisors are trying to reach a new generation. TIAA joins many others including Fidelity, Ellevest, Charles Schwab, T. Rowe Price, and Merrill Lynch that have launched robo-advisor services, which target millennials.