Citizens Bank today announced the launch of its digital investment and advisory platform, SpeciFi from Citizens Investment Services. With the introduction of SpeciFi℠, Citizens can now offer customers a unified view of their banking and investment accounts from their online banking homepage.
The fully digital investment advisor service, offered by Citizens Investment Services and its sub-advisor, SigFig Wealth Management, LLC, provides customized investment guidance and portfolio management. Citizens is the first large regional bank to offer a fully integrated digital banking and wealth advisory offering.
“We think SpeciFi is a game-changing service that will make investing more accessible to a larger set of customers, while providing an entirely personalized and integrated banking and investing experience,” said John Bahnken, president of Citizens Bank Wealth Management. “This represents another example of our promise to provide customers with tailored solutions that help them reach their potential.”
Key features of SpeciFi, which was introduced in select markets and will be available to nearly all of Citizens’ customers by the end of September, include:
- Integrated banking and investing. SpeciFi is integrated with Citizens Bank Online to enable customers to monitor and manage their bank and investment accounts, and view investments held at other institutions that they choose to link– through a single platform.
- Personalized service with recurring contributions and regular rebalancing. The intelligent, simple-to-use platform offers functionality that allows customers to set up automated recurring contributions to their SpeciFi investment account from their Citizens Bank deposit accounts. The personalized portfolio is continually monitored and regularly rebalanced to ensure it’s in sync with a customer’s goals and risk tolerance.
- All-digital experience. Including a fully digital account opening and transfers from other broker/dealers.
- Help from experienced financial advisors. Experienced financial advisors are available for one-on-one consultations, and a dedicated support team is available by phone, chat or email.
- Low initial investment and fees. The minimum initial investment is $5,000 and the low annual asset-management fee is roughly half the typical cost of a traditionally managed account.
SpeciFi offers a free* investment guidance tool that compares existing investment accounts with a customized SpeciFi portfolio and suggests potential improvements that customers can make.
*Wireless carrier, text and/or data charges may apply.
It also offers a paid investment portfolio management service through which SpeciFi actively manages the customer’s investment portfolio, optimizing assets upon account opening and regularly rebalancing in accordance with the customer’s stated objectives and risk tolerance.
To learn more about Citizens Bank, visit the Citizens Bank website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $151.4 billion in assets as of June 30, 2017. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest rate hedging, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
Securities, Insurance and Investment Advisory Services offered through Citizens Securities, Inc. (“CSI”), also referred to as Citizens Investment Services. CSI is an SEC registered investment adviser and Member - FINRA and SIPC. 770 Legacy Place, MLP240, Dedham, MA 02026. (800) 942-8300. CSI is an affiliate of Citizens Bank, N.A. and Citizens Bank of Pennsylvania
SpeciFiSM is made available through CSI. Portfolio management services are sub-advised by SigFig Wealth Management, LLC (“SigFig”), an SEC registered investment adviser. Financial advisors are employees of SigFig. SigFig is not an affiliate of CSI, Citizens Bank, N.A., or Citizens Bank of Pennsylvania
Lauren DiGeronimo, 781-471-1454