BlackRock buying robo-advisor

BlackRock is buying FutureAdvisor, a digital wealth management tool.

By: Staff
August 26, 2015 August 21, 2018
10:43

BlackRock is buying FutureAdvisor, a digital wealth management tool.

FutureAdvisor will operate as a business within BlackRock Solutions. The program is for advisors who serve mass-affluent clients. It’s meant to help advisors make investment and financial planning decisions.

Read: Why you may need a robo-advisor

BlackRock bought FutureAdvisor to help serve clients, such as banks, insurers, large and small broker-dealers, retirement platforms, and other advisory firms looking for a digital-advice platform.

BlackRock did not disclose the terms or how much it cost to buy FutureAdvisor. The deal is expected to close in the fourth quarter of 2015.

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