BlackRock buys ‘robo-adviser’ to woo millennials
~!~ Investment giant BlackRock has announced acquisition of US robo advice business FutureAdvisor// The move will help BlackRock to reach the mass affluent//
~!~ The deal means that FutureAdvisor is now required to operate a business within BlackRock*s technology and risk business, BlackRock Solutions // It will be available to clients, like banks and advisers, to enable customers to avail their services//
~!~ The inception of service came in San Francisco in 2010// It has performed really well since then and today runs about $230m on behalf of clients, offers customers **holistic**, personalised advice on their investment accounts and pensions, and manages taxes accrued in their portfolios//
~!~ It has planned to link to BlackRock*s multi asset model portfolios and investment products// However, users will also be able to get access to other products//