Seeking Alpha

Ally launches robo portfolio with zero advisory fee, high-yield cash buffer

|About: Ally Financial Inc. (ALLY)|By:, SA News Editor

Ally Financial's (ALLY -0.8%) online brokerage and wealth management arm, Ally Invest, launches its "robo" Managed  Portfolio with zero advisory fees.

The new advisory fee-free managed portfolios are ETF-based and include 30% allocation to high-interest-yielding cash.

Investors who don't want a cash buffer in their robo will continue to have access to Ally Invest's flagship automated Managed Portfolio for an annual advisory fee of 0.30%.

The firm also provides commission-free self-directed trading through its brokerage platform for 90 days.

It's also introducing more than 500 commission-free ETFs.

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