The latest in funds and investment news from across North America.

Wells Fargo is cutting the fee and minimum account size for its robo-advisor, Intuitive Investor, highlighting the sharply competitive nature of this part of the wealth management space. 

The US firm said that a person’s quarterly advisory fee is as low as $5.0 on a minimum investment of $5,000. There is a 0.35 per cent annual advisory, which is down from 0.5 per cent, according to Barron’s and other reports this week. The minimum had previously been $10,000.

“Today’s change is to help emerging affluent clients start on their investment journey earlier,” Wells Fargo was quoted in reports as saying.

The Intuitive Investor platform was launched in 2017 and provides a hybrid robo-advisor option, blending automated investing with access to human advisors.