Baltimore-based asset manager T. Rowe Price has rolled out a new digital discretionary investment management solution featuring actively managed mutual funds to help investors meet their long-term retirement savings goals.

The newly launched solution, known as T. Rowe Price ActivePlus Portfolios, will provide investors asset allocation expertise, rebalancing and advice without additional advisory fee.

Initially, the solution will available for individual retirement accounts (IRAs).

The company said that IRA investors with a minimum of $50,000 will receive a model portfolio recommendation after answering a questionnaire to evaluate risk tolerance, time horizon, and investment goals.

T. Rowe Price Individual & Retirement Plan Services head Scott David said: "Many investors don't have the time or willingness to monitor the markets, determine their appropriate asset allocation, and rebalance their accounts on a regular basis in order to achieve their investment goals.

“The T. Rowe Price ActivePlus Portfolios program assumes these responsibilities and provides clients with access to our time-tested, actively managed mutual funds and asset allocation expertise."