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Vancouver-based HSBC Bank Canada has introduced an online investment service (a.k.a. robo-advisor), the bank announced Thursday.

With HSBC Wealth Compass, clients answer a few questions to complete an investor profile and the platform automatically recommends a suitable investment, HSBC says. The minimum investment requirement is $500.

Help is available to investors at every step of the way through live chat or phone, HSBC adds.

“We’ve designed HSBC Wealth Compass for customers who want a hassle-free way to start investing in their future, from the comfort of their home, with the reassurance of knowing the recommendations are reviewed by qualified professionals,” Larry Tomei, executive vice president and head of retail banking and wealth management, says in a statement. “Investing online doesn’t mean you need to do it alone.”

The platform’s investment options include five new, globally-diversified HSBC Wealth Compass Funds that invest in passive mutual funds and ETFs, the bank says. They will professionally managed to ensure each fund stays at the target risk level: conservative; moderate conservative; balanced; growth and aggressive growth.

Costs are kept low through the use of ETFs and automatic rebalancing, HSBC says.

Maximum management expense ratios range from 0.9% to 1%.

The funds are designed to meet medium- to long-term investment goals and are currently available for individual non-registered, RSP and TFSA accounts. They are available to HSBC Mutual Funds account opened online through HSBC Wealth Compass.