Rise of robo-advisors in mortgage business could have an impact

Edmonton-based ATB Investor Services is diving into Canada’s growing digital advice business with the launch of ATB Propser.

The new robo-advisor is targeted to investors in Alberta who are looking to get their feet wet by opening an investment account to save for retirement or for shorter-term goals. To that end, investors can sign up for an account at ATBProsper.com with as little as $100.

“We understand investing can be intimidating and complex for many Albertans, so we created ATB Prosper to cut through the complexity with new and novice investors in mind,” says Chris Turchansky, president of ATB Investor Services, in a statement. “With ATB Prosper, an investor can get up and running on their laptop or mobile device in as little as five minutes.”

Once on ATB Prosper’s website, investors will be asked a few basic questions, such as “What are you saving for?” and “When would you like to use the money?” before being recommended an investment portfolio. The suggested portfolios will consist of ATB’s Compass Portfolio Series, which are made up of mutual funds.

Investors who wish to speak with an investment advisor can do so either via a phone call or virtual chat.

ATB Investor Services is a subsidiary of Alberta Treasury Branches (a.k.a. ATB Financial), a Crown corporation with 173 branches and $30.9 billion in deposits and $46.8 billion in assets as of March 2016.

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