Investment giant BlackRock has acquired US robo-advice business FutureAdvisor, through which it plans to reach out to the "mass affluent".
FutureAdvisor will operate as a business within BlackRock's technology and risk business, BlackRock Solutions (BRS), where it will be available to clients such as banks and advisers to offer to their customers. The service, founded in San Francisco in 2010 and which today runs about $230m on behalf of clients, offers customers "holistic", personalised advice on their investment accounts and pensions, and manage taxes accrued in their portfolios. It will link to BlackRock's multi-asset model portfolios and investment products but users will also be given access to other products. Th...
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