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.

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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."