Wells Fargo Advisors reduced the minimum investment and the annual advisory fee on its Intuitive Investor platform.

The company said investors can now access the platform with a minimum investment of $5,000 with an annual advisory fee of 0.35%. Wells Fargo customers will pay an annual advisory fee of 0.30% if their Intuitive Investor brokerage accounts are linked to Wells Fargo Bank's Portfolio by Wells Fargo, a checking relationship program.

The company said the lower minimum investment and annual advisory fee are marketed to emerging affluent clients.

Wells Fargo Advisors launched Intuitive Investor, an automated investment platform, in 2017. Upon initial launch, the minimum investment for clients was $10,000 with an annual advisory fee of 0.50%.