Citi has launched a robo-adviser, which can be accessed by personal wealth management clients with an investment of at least $1,500.

Citi Wealth Builder, the platform can be used for free by Citi Priority customers– who have a minimum balance of $50,000 at the bank – and Citigold customers for their initial portfolio. Others will be charged a fee of 0.55%.

Jemstep, an adviser-focused digital advice platform snapped up by Invesco four years ago, will power the new platform.

Commenting on the new porposition, Jemstep president and CEO Simon Roy said: “Jemstep is proud to partner with Citi to provide personalised, goal-based wealth advice to their clients.

“We have worked closely with Citi to configure the Jemstep digital advice platform to provide a compelling client experience that supports Citi’s unique value proposition, omni-channel delivery capabilities and robust operational and compliance requirements.”

Citi’s new digital investing platform categorises investors under one of six ETF portfolios depending on their responses to a questionnaire.

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The questionnaire includes topics such as retirement goals, existing savings, and comfort level with market volatility.

Customers can also make investment level changes and see in real-time the impact of the changes on their goals.

The robo-adviser monitors the portfolios and rebalances them automatically. The bank’s investment team is responsible for designing the portfolios.